Gerbil: No idea...but if you've tracked BAC intraday, especially the opening hour, then you're not surprised by what you saw. It's probably just trading action along the lines Huck mentioned plus the simple fact that the equity is a tailor made vehicle for the Algo's, HFT's and all the other "bots" that dominate the volume in this game.
The only way one can play this game these days is by keeping this dominating characteristic in mind. The Algo's. The HFT's. The Bot's. It's kind'a sort'a like playing chess against a machine....without the machines "deep blue" aspects. You just have to consider that theyhave been programmed with all the ways people think in playing this game. The stops, etc.. Their action is predicated on the presumptions this programming engender. Consequently you have to alter how you play in light of this. Play in anticipation of stop run surges and such. And so the "arms race" continues.....Ummm....and this is merely my opinion...I could be waaay wrong....
Bid .57. Bit being stymied in classic ask capping fashion....
All selling side action has dropped the bcid to ~$89.06. Opening up a trading tranche here. Stop just below yesterdays low. Looks like the usual pre-earnings mischief is "afoot."
I like the headline, which Google Translates interprets as "Q3 DRAM prices are expected to hit the jackpot China rose more than 4% intraday subfamily."
An additional translation: "DRAM prices continue to rise, Nanya previously had said the third quarter into the traditional peak season demand in personal computers, servers, and mobile market strong, driven by the third quarter of the DRAM market is expected to continue to show lack of supply, average selling products price compared to the second quarter is expected to increase by 5%; corporate forecast DRAM spot and contract prices continued under the stock price to rise at least another 5-10%, Inotera will directly benefit the third quarter revenue and profit will significant growth.
File it under "things that make you go HMMMMMM???" ;-)
Because that is what Master does. It's all about the churn. And it will continue to be about the churn until the DoJ decision is rendered and some time is put between Poochie and the (for now) constant FUD. Bid .51.
Strangling Poochie on the leash. The first 15 minutes have been all selling. In fact the bid has been taken straight down to my earlier mentioned uptrend line (set in place from $15.05 on June 2). Yesterday that line was resistance before it broke in the final hour. Right now it sits at ~$15.49. Let's see if this is a test of support or just more of Master doing what Master does. Bid .50
Sell side is hammering the bid which is now at .50. Master does NOT want Poochie going anywhere..for now..looks like it's back into the .40's. In fact..bid just got hammered to .47. First 15 minutes has been all selling...
Okay Master let Poochie get to .62 before yanking the leash to .56. It's a long day so let's see if .65 is on the table (or dog run) for today..
Bob: Since the downside gap that opened on July 17 (fall from ~$34.65 to ~$33.90) and the subsequent p/b from the bottom of that gap to ~$32.60 the bid has been trading semi-flat basis with an upside bias. At least from my point of view. It's oversold here and the stoch's(on the 10 day) are signaling an oversold but not quite (yet) a buy condition. If you take the July 17th closing low and draw an uptrend line using the July 18th p/b low off the opening pop, this being ~$33.10 you'll see that line is set to end the day at $33.50. That line is my resistance line. So I kind'a see a continuing wallow-around until the stoch's set it up (for me). Apple may provide some impetus of one kind. Geopolitics may provide one of another. For now the charts, like my magic 8-ball, are saying things are uncertain.....stay loose and don't over-extend yerself out there....
Just my 2pennies worth. Bid $33.10.
I see Master is still keeping Poochie close on the trot. But he has allowed Poochie to break back on top of two trendlines I've been tracking. At least...so far going into close. The first is a downtrend line set at the $15.84 line on July 15. The second is a slow uptrend line set at $15.05 from June 2. Breaking these two in conjunction with a Quasimodo styled reverse HnS (heh) on the 5 day 5 minute chart makes me think Master may just let Poochie to back up to the bottom of the July 16th gap at ~$15.65. Not today...but maybe by Wednesday? All just a TA WAG, of course. But hey....gotta while away the time somehow while waiting on the DoJ, eh?
Maybe. But sumbody just expended ~160K in share "ammunition" selling the bid down from ~$9.68 to $9.55. Action like that tells me an announcement aint coming AH's today....but let's see how the final half hour goes....bid now 9.60.
Jfred: "...ust a good case of greed, greed, and more greed." But...but..isn't that why we're ALL HERE? The objective is to make money. Period. And the last time I checked my morals I believe that objective ain't being driven by altruist values and such. ;-) Meanwhile, bid having troubles getting back on top of $89 so far....
Peoples expressed frustrations are due to a misalignment between hopes/expectations and the reality of the pps performance. Hopes and expectations are fanciful dreams. Ones propelled by greed. Me I prefer to live in the real world of what the market is actually doing....all else is just counting chickens before they hatch. But I'll admit...that's just my attitude, one that's served me well in playing this game. Bid $88.97
Shost: Insiders continuing to sell? Ha! Who knows. But I've never seen an equity do a $4 upside move without doing some consolidation.....I'll be more concerned if the bid tanks, between now and earnings, back to the ~$85 area.....right now bid is $88.96...no...99....it's bouncing around like a jumping bean on a hot griddle....
I'd say Fridays +$4 gain is being consolidated right now. Chairs being rearranged and reset in preparation for (hopefully?) the next leg up. All just my WAG, of course.