No real buyers. Some shorts covering to just short again. Going lower. Down nearly 9% today already. Collapsing.
This drop today is a little exaggerated. I bought some at 69.20 Think it should come back some before the day is over. If not I will hold for a bounce tomorrow.
Now this has to be painful. The market is up near 300 points and your stock is down over 7%. Do feel bad for owners. Hopefully they cover some before day is over so it is not so bad at the end of the day.
Only a matter of time before the big money would start making money shorting the refiners.Today they are making a bundle on TSO. When the GS, JPM, etc, quit buying and are shorting it is easy money for the shorts. Now there are few real buyers. They have staked a large short investment and now use a number of millions to short and cover continuing to move it down making lower highs and lower lows. This is not manipulation it is what wall street pays to do. The FED provides them with this money to keep the market moving. It is also why stocks move down so fast like TSO today.
Many stocks are looking like 2008. The GS's and JPM's etc. are taking certain sectors and shorting them making mega millions while taking other sectors long and making mega millions there also. Be careful that you are in the correct sector. They can take an upgrade on PSX and gap it up then short it back down heavy. Be very careful out there.
Couldn't have been too great a pick if you are emptying it now. Has been going down nearly every day and today is another doozzy. Great selling and shorting volume today. Think there are a lot of folks like yourself have decided it is time to give up. Has been making new 52 week lows since October 15. Yes, it is going to make more.
Dow is also a shale oil play so that is one reason they are going down. Others to do with manipulation etc. are part of the equation. Large selling volume today. The big money GS, JPM, etc. are probably covering here later in the day as clients who are selling guarantee the nice low price here.
That they could but today they are selling. Now the market and oil price it going up but DOW Chemical has the volume on the sell side.
No real buyers. Just some shorts covering on the buy or bye side. very easy for market makers to move it lower. They have lots of sell orders. The can execute them in with their own trades and then still have lots left to cover their shorts. As one can see they are doing it already.
Did someway say, "Correction" for certain stocks not the market?