You are in very serious trouble if you think today's action is some sort of a bottom with heavy volume.
1. NBG is heading below $1.00 (easily). I'm a professional trader and I know why/what is actually happening today (why there is heave volume).
2. The key in any investment is having an exit strategy which is defined as the preservation of capital.
Even if someone bought 5 million shares at $1.06 today there would be a tight sell order at around $1.03 or so.
In other words that trader, who hypothetically bought 5 million at $1.06, would be willing to take a loss with the idea that todays big volume is indicating some sort of bottom (which would be dead wrong by the way).
Seriously, I hope you get rich beyond your wildest dreams (it's not going to happen in NBG, this is certain).
When I first started trading in the 1990's I would think this too.
Over time I learned, however, that I was completely wrong.
The reason I was completely wrong was very simple.
I based my thought process on the 52-week, and the all time lows, of a faltering investment as some sort of a bottom.
My error was no knowing that the MM's (market makers) artificially try to keep a failing entities price at a certain level (let's say, in the case of NBG, at around just above one US Dollar... or at todays close of $1.18 per share).
By the way, these MM's are very important because they maintain order in the markets.
I'm not saying anything bad about the Market Makers. They are absolutely needed.
The problem is simply that ignorant traders (you in this case), don't understand what is happening.
So the MM's are doing the following: They are luring in retail buyers(you again), by buying tons of these NBG shares over the last few months and selling them immediately. Even if someone sells a million shares at market price the MM's have invisible orders to buy those shares. So the MM's keep on buying as the shares are falling. They are buying to sell a little bit higher, and to keep the market going and looking good.
No, seriously, it's a very good system if you take the time to study it and to understand it.
This post alone is worth around a $100,000.00 consulting fee but you get it here for free (open source, huh?)
As a professional trader I am very knowledgeable of all of this stuff and this is why I am saying it in this NBG forum.
I know that lots of people hate it but who really cares. It is the system we have and it works pretty darn good (usually).
Sentiment: Strong Sell
MM's will drop constant 10,000 share orders into the close in my opinion.
46 minutes to go so don't mind the $571 bumps myself as I still am looking for a $562 or lower close.
BIG sell orders in the last 10 minutes today.
This is when I cash-out.
The NFLX MM's will win sukkas!
They always do.
A $below$ $562 close today.
Well, I guess you are thinking all of this through way too much.
It's not really how you say it is.
You'd really be an old man with money if you were right but you are not.
I happen to think we'll finally sell-off NFLX in the last hour to my posted targets.
I bought 5 of the $565 puts today for .65 cents and would like to sell them for several dollars in the last 10 minutes today (NFLX stock should be at around $562 or lower in the last 10 minutes today)
HAPPY WEEKEND TO YOU!
When and at what price?
So, do you expect to be giving up your shares in the last hour?
NFLX should easily drop to around $562 or lower by the close today.
Should close at the low of the day if all of the indicators are correct.
(never mind that Marissa Lee just said that Netflix is the only bright spot in the markets today)
Sentiment: Strong Sell
or is it really:..
B.) That's one small step for a man one giant leap for mankind.
Is it A or is it B?
And how does this moon landing quote relate to the new word called grexit?
What exactly does the word Grexit mean?
There were no comments on my important post here on the Netflix message board.
There is one important thing going on today in the markets.... Well, two really.
1. That the dollar dropped 1% today (inflation).
2. Electronic (robotic), trading programs are causing big exaggerated moves on a Friday afternoon when many big human traders have already gone home for the week. This second point is perhaps the most important one to consider on an options expiring Friday afternoon when the market is down so much.
Should recover to only down around 200 points by the close so don't let that Dow down 345 points right now bother you too much.
Since I paid under a buck I'm guessing we'll close very close to flat for a nice gain.
I know they are already up by around 50% so I did lock-in my position for a gain no matter which way the winds blow.
99% of the earth is not yet populated by humans.
I guess there could be a trillion people on the earth if they all just ate granola bars and drank tap water.
Why do you think 7 billion people with only 1% of the ground taken up is a problem?
paperforpaper • Apr 16, 2015 10:59 AM Flag
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I think the debt will be worked out, but it will take a long time to get to $6. Their problems won't magically go away with debt being paid.
But he also said that Germany should stand their ground and hold Greece to the fire..
(Just simple politics I guess)