It's not a question of wanting, or not wanting, it to go up. Neither is it a question of wanting (or not) it to go down. The only thing that matters; the ONLY thing, is the churn. And with institutional rebates for every....single....transaction processed can you blame the machines? Free money, baby. Free money. Regardless of what the equity does...
And here at close ain't the way of it? Yank the bid down to the ~.50 area. Pump it to ~.80. So where does it close? Basically flat at .75 on below average volume. Churn, baby. It's all about the all mighty churn.
Wd: Yeah...lucky indeed. Going into close I thought the bid might try a run back to $19 but Lucy rolled the ball over at ~$18.95 and now the bid's at $18.69. Yet another trading opportunity for tomorrow (I suppose). For now, though, that aforementioned $18.85 line is proving out as continuing resistance to further upside. So it's the set-up line (long/short) I'll key off of until things....change?
Well...you'll never catch me crowing about timing entry's and exits. I am LOUSY at it. And I point to my earlier get at .86 from which the bid subseqently dropped straight into the low $18.70's. But bid is now $18.94 soooo...I'm OUT for a bit less than 10pennies but with the final hour starting I'd prefer to be on the sidelines from a trading point of view. Got some profit in any case. Now watch....what'd I say about entry's and exits? Watch the bid zip to $19.20.... :P!
here it comes. Bid .54. Overall I think the churn is just a reflection of the red/green/red/green swing churns the machines are doing to the entire market. Dow back in the red after being green earlier in the session (from being red even earlier before that)
Rumor excitement over. Bid got north of $13.60 for a moment....now $13.22 and falling back...
Probably a good tactical play. Bid again at $15.59. I think I'll run down and place yet another bid on the buy side at the ~.50 line...
;-) Meanwhile just like that Lucy does another yank and the bid magnetizes (is that mixing metaphors?) back to...~$18.85....a key resistance/support line on my charts. Must be for Lucy, too? Anyway...bid now $18.82. Looks like a good place to re-enter so I'm back in at this ~line.
Tyler: Well something is driving the bid higher (I'm not complaining). Now $13.39. Perhaps it's the news that Indonesia is renewing the contract...or rather...promising to? Bid now $13.40....
Joe: No offense taken. ;-) Different strokes for different folks. And I wouldn't say I've guessed correctly every time. Just +51% of the time is sufficient to keep me in the game. (VBG).
Anyway.....I trade blocks sufficiently large to satisfy my earnings projections which is why I trade. I just consider taxes and commish the cost of doing so is all. This is not to say I don't invest longer term, or short longer term, as I do. Only that I wear two different hats. It's kind'a a consequence of living thru at least two market melt-downs my conclusion to which has been to always have trades going to mitigate any unexpected "Lucy stuff."
G/L! Also...look'it that! Bid breaking thru $19? Now $19.02.
Yah....I didn't hear it on CNBC, either...but will have to admit I've only been half listening to it today as trades have been keeping me hopping. But regardless the "rumor" is churning the bid higher...now $13.30 and catching some large support....
Okay....out the earlier "get" at .60. Not quite the +10pennies but....I never quibble with the ATM machine......think I'll run back down around that earlier line and reset a bid. Have I ever mentioned churn? ;-)
Don: I think "the force" will provide ever so gradual upside pressure, but in the usual roller-coaster fashion. At this point my WAG is failure is off the table...so recovery will occur. But even if I would never advise betting the baby's milk on it. There are no certainties, especially with an equity currently akin to a LOTTO ticket. Regardless...if you're patient....then I'd say this time next year should find you pleased with any buy you do down here in the ~$0.50 to $0.60 area. Speaking of which bid now $0.6596.
Ummm....and this presumes nothing earth-shaking occurs in Greece, the regional or global economy to upset best laid plans. Also....all the above is just my WAG...
Yeah....just saw that on ToS, too. Unconfirmed rumor is the gist of the alert....geee....then why put it out there if it's unconfirmed. It wouldn't be because you know the BOT's and such will see the headlines and reaction in non-thinking fashion? Could be why the bid has splurted to ~$13.20. I'm not complaining since I'm reaping the benefits of the trade, but this sort of blatant manipulation gives the game a (justifiably) bad name. Then again...perhaps unconfirmed will become....confirmed? Let's see..
ATM bid....errrr....BAC bid now $15.61. Setting stop just south of .60 to lock in the gains. Let's see if the machines keep doing their routine or....?
Joe: HA! Yeah...I get the sentiment....but I submit rather than going exclusively with the "really significant returns," which are of course highly speculative and problematic in actually occurring...why not go with the "bird-n-hand" (tactical) philosophy and have the benefits firmly in hand by the time said longer term significants occur? ;-) It all adds up to the same thing....if not more....
Ummm....not much difference between that and all the care and concern expressed by conservative folks over the Oregon shooting, a certain church massacre, a CT school shooting or anything else does it? Just so long as they can get their cheapie munitions and such. (See...two can play at that game so I guess the question is....what's the point? HEH!)