Don't know from "major run" but I suspect we'll be seeing higher highs and higher lows, overall, going forward....but it won't be quick...more like a tough slow slog thru muddy swampy terrain....
And I suspect come end of year the bid will still be south of that 2010 high....the equity, and the sector, remains in the garrote....
Rpfla: Nah....I'm waiting to wave a sub $15.50 bid....the equity is always driven into overshoot territory....it routinely happens on these downside walks...just like it overshot to the upside yesterday. Bid now at $15.54 and the sell side tactical game is not letting up....Master id definitely taking Poochie back sub $15.50 effectively close gap along with any lingering buy side enthusiasm....I suspect a return visit to the ~$15.45 area is being set up....at which point there will probably be a release on the sell tactical game to allow a bounce back somwhere north of .50....so I'll put my bid in at that level and play the "fer 10 pennies" game.....as is my practice with this equity.....bid now $15.53....showing strong here but we know the game by now, eh?
I suspect Master is taking Poochie back to below $15.50...again. Bid weak at $15.56 with the usual tactical selling game being worked. That being even with the bid showing large, the ask showing weak and appearing to fade while being pounded it ends with the bid failing....over and over and over again.
In other words....tactically speaking nothing about this equities action has changed. End of story....for now..
Aaaaand once AGAIN the bid does the fade after the earlier in the day pulse to the upside. It's becoming a pattern......saving grace...it closed higher than yesterday, though still in the channel it tested breaking out of this morning. So....today was nothing to get excited about unless you be playing that pattern.....I'm looking to close my final hour p/b "get" today in the first hour tomorrow. ;-) Now watch it crater from the opening bell...
Nest: Yah...and I've maintained a channel on my charts for the last few sessions. It looks like it might be trying to break out of it to the upside. But that's a cautionary "might" because a pattern that has developed with the bid of late is to start off strong then get pulled back into the close. It's only 1 hour into the session so if this pattern holds expect the bid to be walked back down from ~$15.70 into the afternoon...
For now the Poochie is doing the mambo on the $15.70 line....more or less.
My guess is they won't run out of money, and all sides will reach a face-saving agreement. But for now it'll be a day in and day out grind while all the media portals are used by the power players on both sides of the "divide" to game and influence things......all for the usual self-interested reasons.
Meanwhile the sideways grind from ~$1.27 to ~$1.31 appears to be setting up to continue apace today...
Hope: HA! Yah....Canada is basically a province of the U.S.? I'm sure they'd take exception to that idea. Any...I've always had to laugh over this Big O "is he or isn't he" a citizen. His mother was a "born in Wichita, Kansas" American. And given this...unless I'm mistaken here's what happens to any children born to this lady:
"(to be an American)" Have been born in the United States or certain territories or outlying possessions of the United States, and subject to the jurisdiction of the United States; OR. had a parent or parents who were citizens at the time of your birth (if you were born abroad) and meet other requirements."
Bada BING! The latter "after the OR" comment cements it. Never understood the hysteria by the pointy tin-hat set over the Big O. And good 'ol Teddy, as a consequence, also meets the criteria so we've the prospects of enduring a couple of years of Woodrow Wilson Princeton School'ed ideological elitism being shoveled down the more average American's throats....or until he drops out of his pursuit of the Oval.
But why any of this is an issue is beyond me since the likes of Netanyahu and his ilk seem to be dictating our policy these days, eh? Who in the hell is at the helm of the Senate/Congress, aye? ;-)
In any case it (the next year or so) should be highly entertaining...
Juuuust sayin' is all.
Oh...BAC...Bid $15.51...started off nicely but...as usual...Master now yanking da Pooch back to heel....
Interesting. Don't know about that fast return to $6....but I do expect all sides to reach an agreement that will relax all the FUD pressure.....if only a little bit. Which should allow for some upside to played as a trade.....
Let's see what happens next. That's for the Reuters link. PM bid $1.27...
Illogic: "....Would it be ok if someone sold your house to another investor...."
To my mind you're using an apples vs oranges comparison. Don't conflate real estate with equities. They ain't the same thing though, in the last couple of decades what with the chant of "your house is an INVESTMENT" that certainly has been what has been promulgated by...oddly enough...the financial sector (heh)!
But that said let me flip your logic. Would you be upset if thru dint of advertising, word of mouth and all the usual mechanisms the property in your area was kited to the sky? That two bedroom fixer up'er commanding sky high valuations. 'Course you'd be pleased at the time...hell....just look at what happened to real estate valuations from mid 1990's until the crash of 2008...but were those TRUE valuations? I'd argue no...Talk about kiting....and today's economic reality would vouchsafe that idea...so wouldn't you have preferred to have a stabilizing "hand" mitigating such irrationality?
Anwyay...it comes to this....being long or short (an equity) is really just a tool of this game. Its purpose is to glean a profit from what you see as a potentially profitable situation. No different from a buy side analysis. But between the two distinctions it has much in common with playing poker. You've got some holding winning hands, some who are bluffing, but it's only in the play that the final profit (and for whom) is determined....remember....the equity is a pure(er) form of Capitalism than real-estate. So the profit-making tools varying accordingly.....though there's one tool/action that is the same....each has their enthusiasts, pumpers and decriers.
Karm: As a trader and player of this game I don't have an issue with shorting. It's simply a tool no different than going long a stock. Hell I've been known to execute a short or two when the set-up calls for it. All else being equal shorts can be considered the dispassionate appraisers of valuation.
They don't fall in love with an equity or a company. They dig in deep to determine ultimate legitimacy in valuation. And then they go from there. You could say they "cull the enthusiasm" of the herd. They tend to cut thru the bull associated with the pumping, cheer-leading and pontifications of those who would have you buy in used car salesman/person style. You know the type...the "trust us there's VALUE still left in this 'ol horse" types that are pervasive in this game.
'Course...this is simplistic....those who short are no different that those who are long. Vested interest tends to blind them in a fashion identical to what happens to the long side pumpsters. They lose the dispassionate edge...much like Ackman has lost his with Herbalife. It becomes personal at which point they engage in all the actions that make the shorts so hard to stomach. I guess you could say it's an aspect of human nature....not being content to play your game....but needing to talk it, too.
It is what it is...an aspect of this game you cannot be rid of....
Just some thoughts. Meanwhile I see GILD has been putting on a nice upside move.... $99.11.
Political theater spelled with a capital POLITICAL it most certainly is. All it lacks is the usual Greek chorus standing stage right to wail, shriek and cheer at appropriate moment is all. 'Course....I daresay we could insert all the media portals, talking heads and such, into that role and they'd fill it nicely, eh? Oh the wailing and pontifications being heard from that ilk. It is what it is.
And in the end...like with most drama's of this particular genre...there'll be a face saving conclusion reached by all parties....just wait on the cue from the chorus is all......
Meanwhile bid grinding (again) a straight line edge today...just like yesterday and the day before that....$1.24 x .25.
Nah...it'll do well to close north of .50. For now looks to be setting up to do the usual fade in the afternoon. Bid now $15.51.