Bid now $10.09. Looks like nobody short wants to hold over the week-end? ;-)
The volume on those July 19 $10/11 Calls is running hot, too. Hmmmm..
Speaking of sell side tactical....watch the intraday now....the bid will show strong....the ask absorbs a flurry of action seeming to signal it's about to fade. And what happens? The bid fades instead. CLASSIC sell side activity.....the Algo's/HFT's/etc. are nothing if not "clever." You'll know the tactic is changing when you see the ask actually fade......
Huck: C will be interesting on Monday indeed. But regardless I don't think it matters. Nothing matters regarding upside in this equity until they can put at least one no-FUD quarter between them and the current times. The FUD dominates, and keeps any upside cap, which allows for what keeps being seen from session to session, a frolick of sell side tactics. It is what it is. I play my trades accordingly.....because if nothing else the volume of the churn allows for it....I'm looking for a sub $15.30 entry....and since the usual sell side tactical game is being played I expect to get my fill......but saying so is one thing...let's see how the session actually plays out. Bid $15.31
Really: "Day traders beware and go somewhere else..."
No offense but....BWAHAHAHAHAHAHAHAHA! You must be kidding, right? This equity is the darling of the HFT/Algo set. It's a freakin' "churn it for pennies" ATM for them....and has been for many a year now....and will remain one so long as the sizable FUD remains as is....
I dunno....if we're lucky Master will let Poochie end the day at $15.40 or a bit better. But my WAG is Master will yank Poochie back south of .40 into close...
Tigger: "I wonder what it means?" I presume this is a rhetorical question? ;-) The Finny's as a group just ain't getting the luvin' like last year. First you're a darling; then you're not. All just part of the ebb and flow of market sentiment. In this case it's just a wee bit accentuated by sector player stupidity that has reverberated since ~2008. It'll change...with time....just got to deal with it as it is. ;-)
Bid now $15.43.
Shame on Business for the way they treated the taxpayer back in 2008. Or have you forgotten already? Bottom line? If business hadn't opened the door on all of this back then you wouldn't be wailing about gubernment involvement now. It is what it is. Deal with it.
Huck: Zoom out to a 30 day TA chart and you'll see that this YANK effectively sets-up a double bottom test from the mid-June period. Today will reveal the beginnings of either a double bottom break-down, or ultimately of upside continuance. Everything seems to point to ultimate upside continuance....but you have to allow for the ever present variable of never ending FUD-inspiring news like the NY AG's "Nyet" released after hours yesterday. Is it getting tiring to have to deal with this never ending situation? Absolutely. But there's absolutely nothing to be done about it (by investors/traders) until it's resolved. It is what it is. Play/trade/invest it accordingly. Bid $15.35. Up 10pennies on my mid .20's get. Standing by to pull the trigger on it since it's just a trade.
Okay as completely expected Master YANKS Poochie to the mid $15.20's. Got my first bid. Now down +2% as usual...and on yanks like this the usual day ending is a bid down by about this much (percentage-wise). Let's see if that pattern holds.
Bid now $15.26.....sell side tactical game seen the last couple of sessions is still being run...
Bid $15.39. Looks like the Holder "NYET" on a meet is having the predictable effect. Master appears to be setting up to yank Poochie back into the June 27th area of the $15.30's....Below that and there's that May 27th ~$14.70 to ~$15 gap that yearns to be filled. :P! It is what it is. Poochie will remain captive the FUD-uncertainty until management can put all this behind them....
And as expected Master got Poochie back in harness on the leash. Took about 1.5M shares to walk Poochie from ~$15.65 back to where the bid now sits, $15.56. What you bet the bid ends the day south of $15.60, eh?
Tigger: Agreed...but it's a light volume day...it wouldn't take much. And we all know the herd has such a stellar memory about such, eh? ;-) It might also have been a function of the Fed news....pretty much everything I track took a hiccup northward shortly after 14:00....everything's now settling back...just like Poochie....Master is back in control. Bid $15.58.
This came out at ~14:00. Yet all the talking heads and chattering classes are......silent on this? This is BIG! At least...to me. What....did the Pope fart in the Vatican or something and everyone's afraid to talk about it for fear of disturbing the masses? ;-)
And here's something that came out at about the same time...and I'm hearing little reaction out of the chattering classes and talking heads: "Fed plans to end bond purchases in October." Silence. Hmmmmmm......?
Meanwhile Master continues to rein in Poochie. Bid $15.60.