Cheetah: Dead money? What's that? ;-)
I jest...but the art of this game is much like that old Kenny Rogers song line...."you's gots to know when to fold 'em."
Or to my mind let your winners run, and cut your losers quickly. This is, of course, a traders point of view.
Anyway....I'll side with the buy side enthusiasts from the long term perspective. The $5 to +$35 run proved the perspective was correct (at the time of $5). But I'm rational enough to recognize that's a fantasist game...the very long game that is.....at least for now.....so I pull profits even from longer term positions when it's clear a non-sustaining big pop has occurred. This ain't to say the future ain't bright. It could be. The jaw-boning is wonderful but the reality is execution results are waaay out over a year. So take yer profits and wait on the settle-back to re-enter is the better tactic to play.
Looks like the selling started off small at session open and snowballed...probably hitting profit saving stops and such. This is what the machines do....they go snuffling for, and flushing out,, all such gambits. And you don't even have to place one for them to see it...the machines are intelligent enough to drive the bid straight to those areas (just like they do on upside jaunts). After all...be we human or be we machine...we're all using the same TA-type metrics. They (the machines) just move at speeds that make humans appear to stand still. So all you can do is try to anticipate and play off their speed of direction and mis-direction. For now the bid continues to sink..now at $19.27. I suspect the "mission" is to take the bid to a test of an older downtrend line. One that starts from the ~$28.58 line back on June 2, 2015. Lucy pushed the bid well north of that resistance line back on Tuesday...now she's bringing the bid back to it to test support (?). That line sits, right now...at ~$19.15. So that's the metric I'm watching....let's see if the action validates my WAG...or if I'm just talking out me posterior end. ;-)
Bid $19.27. Oh...by the by...this seems awful....until you consider that Monday's open was at the ~$17.60 line. Perspective...it's all about perspective.
Define "long?" HEH! MU remains what it has always been...a dream trading vehicle...both from the buy and sell side. If you've got a view on this equities action that's longer than a cyber second then you know how it gets played, roiled, pumped and dumped. I've played and watched MU from the old $5 days, so I say this from that kind of time-frame. Today the advantage is to the sell side. Tomorrow it could be to the buy. 'Ol Lucy...she plays no favorites....she's an equal opportunity confounder (of dreams). That's just the way she is.
Bid $19.36 and looking for stability...
Yeah...me neither (to the flagging comment). But it's weekly opt's exp Friday. It's the last day in July. Could be folks squaring positions ahead of August vacations?
Sell side has dropped the hammer on the bid. They've been doing so since session opened, in very patient but continuous pressure fashion. The bid will be lucky to close at the $19.50 line....todays Put opt exp's at that level are showing large volume (for MU), too. Bid still collapsing...now at $19.43. I'm looking for a second tranche entry but ain't stepping in front of this...just let it play out...
Well that was interesting....sell side just slammed the bid to mid $19.60's and grabbed a "for giggles" open trading bid I had waving south of $19.70. Lucy is playing a hardball football game today....and it certainly ain't under inflated, either. ;-) Bid $19.71.
Indeed. My WAG is the intraday game for the day....the mission (if you will)....is to keep that bid south of $20. Each time it starts to pulse up to the area a series of sell side pulses sends it straight back to sub $19.80. A bit of consolidation going on me thinks.....
Here's a link to a yahoo news datum.
Slow they turn...sneak...tippy toe....ahead of the Fed? Let's see how it plays...
By the way....there's that gap from $17.90 that needs filling (from last Wed). And you know how the chug and churn machinery seems to love to close those gaps. Bid $17.95...
No surprise the $18.teens remain a barrier swamp to any further upside. I grabbed a tranche just south of $18 on the opening yankage. Just playing the usual +10penny game if I can get it...
Lucy is opening the session with a hard YANK of the ball away from the buy side Charlies Bid just dropped south of $17.80. I suspect todays gonna be filled with this sort of yankage for both the buy/sell camps. Too soon to say where she intends to place the ball at sessions close. Bid $19.79.
Yup...up a bit more than a million at +61M shorted (as of July 15). BUT...this is coming off a 52 week low in short size of ~60.8M. Just eyeballing a 12 month average on this I'd say the average short position has been ~100M. So...nothin' to get overly excited about on the blip up....at least...not for now. ;-)
And just like that bid $19.84. No...$19.88. Ah the machines are really working it today ain't they?
Speaking of which the $20 Options (calls mostly) are getting worked, too.
Vincent: HA! Yes indeed they are. They've spent most of the session snuffling around the low end....scouting out were all the logical sell points would be and, to my mind, scooping up the cheapies so to reap the benny's of selling higher...seems to have worked what with the bid now at ~$20.03. But there's ~35 minutes left in the session; ample time to do two round trips from here to ~19.70 and back again....
Hard to say. This is yet another one of those days where the bid can't seem to get out of its own way....$18.11.
Oust: While I agree with the sentiment if it's legal in the technical sense of the word then extradition will be tough.
Anyway, I get the "canned hunt" aspect. It's not something exclusive to parts of Africa. They do it here in the U.S., too. Let me say straight up here that I've always looked askance at such activities. My visceral reaction to it is....why? I understand deer hunting for venison and eating. But this sort of big-game "thang." I dunno.....I've had buddies go on bear hunts (and such) where the bear was basically all but chained to a post target-practice style. And these folks would come back bragging....? They're fantasists regarding hunting.
I will always maintain that this ain't hunting; and it's not even sport. It's a well crafted slaughter, nothing more. Hell...the comedian in me thinks that if they truly want to make it a hunt then arm the lion/bear/etc. so they can fire back. Or go into "da brush" lightly clothed, unaided by others or high tech devices, and in sandals carrying only a bow. THEN let's see how great the "great hunter" truly is. ;-)
Meanwhile the bid continues to churn up and down in the teens. No surprise...
I don't know from Cecil but my understanding of this weee event was that it was the killing of a collared, semi-tame, well fed, animal within a human bounded territory and such. All set up in advance with lures by attendants for the "great white hunter?" To my mind this wasn't hunting; it was shooting fish in a barrel. Tell me there's "sport" in such an affair as that, eh? HEH!
Yah....and if one wants to have any real chance of succeeding in this game you have to develop your human psychology skills. TA alone, strictly speaking, will not suffice. You have to be sensitive to the workings of the human herd...what makes it tick, what makes it nervous and all the rest....even if, as a group, we're akin to a herd of cats. ;-)
On the grand human herd scale, be it political, economic of philosophical everything is driven by popular delusions and the madness of crowds.....wait....there's a book title in there somewhere. Heh!