POW! Yup....last couple of minutes 140K in selling slammed the bid from ~$120 to.....$101. Then right afterwords in the next minute 140K in buying slammed across. In any case.....the bid now closes at...$101. WHAT a SURPRISE! It went all 'round the barn and back and ends up down 7pennies....effectively due to the slam job in the final half hour...
Vincent: Perhaps (out of) sector rotation plus the usual periodic bit of "oh my GOD the PC is dying" FUD juxtaposed against all the background dynamics of the market is probably contributing.....MU is starting to look very attractive here....but I'm waiting out the end of month end of Q nuttiness that always seems to roil things...
BAC: Indeed....but I've been playing in other sand-boxes lately so not really tracking BAC closing on the intraday....why the yankage today? End of month end of Q shenanigans? Something that made the market go EEEK!?
Locking yer shares up eh? Errrrrr....not to be all rational about this but there are +10 BILLION shares outstanding. If'n you're locking your shares down under the illusion that this will somehow impact any short sided actions.....well.....that's short sided, eh? ;-)
Rloos: Not to wax critical in this regard but really, deleting negative BAC comments? Really? Why am I having trouble believing this what with the almost literal tsunami of OT diatribes that make up the bulk of this thread being allowed to merrily flood this board unimpeded? Check yer coffee...me think yer med's fell into the cup this morning. If so...I'd say share but there's a mountain in the Alps that (now) makes me cautious over most of such. ;-)
Session opening saw a pop to ~$102.10...but before you could get even a giggle of excitement YANK! Bid went straight to ~$101.10. Now at $101.36. The nervous, jerky and twitchy action continues in the sector....witness the IBB. But at least its up from two sessions back?
Let's see how the day ends...
Glee: I'd stay away from the cacklin'. Where this equity is concerned there seems to be a trend...when either the buy or sell side camps start to cackle that's usually about when they get their noses rubbed in.....it.
Current bid $1.24 and there's that March 20 ~$1.15 to ~$1.25 gap that might need filling. Or maybe that's just my hope since I'm yet again waving a low-ball bid down at that ~$1.15 level....a look at a 60 day chart shows a rough ~$1.15 to ~$1.65 channel containing the bid....
Let's see what happens next..
Oh boy...well...recovery is ON!? Bid $101.46. But everyone who tracks this thing knows it can turn on a dime in an eyeblink...but let's see how it plays from here. Bought some IBB this AM that's doing nicely right now. GILD I've gone in/out/in/out in "small bore" fashion and now...excepting a very old long term core am basically sitting on me hands watching...
Bid now $101.60.
Matt: My WAG is $100 is still the pin. Notice that the bid got as far as ~$100.70 but has been yanked back to (now at) $100.16. 'Course....IBB also got yanked in similar fashion at the same time....so it continue to be the indicator on GILD. Bid now $100.24.
DEFINITELY a "twitchy" day. Even more so than normal. GILD is tracking hand in glove with the IBB. Like the pop to ~$101. That was a nice start. Then the IBB rolled over and so, too, went GILD. From $101 to $99.75 in less than 10 minutes time. Now trying to come back with bid at $100.23. Close yer eyes and try not to scream. It's one of those days. ;-)
Huck: "I like it so much I haven't made the trade."
HA! And that might be the very best trade to have made for today? I jest...but really....given what's been seen of the intraday action the last few sessions the best trade to make, excepting if you're playing the short game, is the not made.
So for now since, in my view, it's too late to garner much from playing the dark side I'm just staying flat and watching.....
And Dow futures looking nasty...setting the market up to continue apace from yesterdays beat-down. Looks like a test of $15 is all but ordained with BAC and the finny's, too. I see C is in the $50.74 area right now. I suspect since blow-offs like this usually run for ~3 days...and this is day numero dos, that today's session is going to be.......how to express this highly technical term? Fugly.
But we've got to live it, so let's see what actually happens.
Dow futures looking nasty. IBB at mid $336. Wunderful. Looks like the blow-off from yesterday is setting up to proceed apace. Buckle yourself in if you're long as today is probably not going to go according to your liking. Conversely...if you're short...now's the time to start plotting exits.....if'n you're a trader.....
Last trade small, but at $99.26.
Nest: Yah....Gild got complicated today....or maybe I just got too cocky. I was long into the open...rode it up to ~$103, sold and flipped to a dark side trade...closed that out at what I thought was gonna be a low...flipped back to the light and then got hit cross-ways by the bid continuing to drop by over a buck 50 to a close just a bit south of $100. :P! Holding that position as I do expect a bounce.....but with the quarter closing the big boys/girls may be selling some of their winners and buy losers....which would mean bio is subject to getting hit.....and which also means I could be holding the trade for a time. But if that's the case there's no indication the finny's are reaping any money flow benefits for being the overall sector loser this Q.
Oh....speaking of Finny's.....went back to play in high-speed traffic, too. Heh! NBG....opened a trade in them when they got yanked this AM into the $1.27 area....it actually closed at $1.36....still holding that one....let's see what tomorrow and the rest of the week reveals. I suspect it's going to be end of Q nutty...