And they're still bidding it up in pre-market, trying to ride the momentum from the past 3 days....I think it fades starting today.
Analysts upgrade a stock after a parabolic move like this (from $17-$23 in 4 trading days), and they downgrade a stock after a big drop.....What else is new.
I thought WDAY had turned the corner, but I guess not. A revenue warning does not bode well for the stock. Options contracts were also very bearish, betting on a drop post earnings. I see it's up very slightly in after hours, so I think I'll sell my shares now.
Cloud growth for WDAY is slowing, as we move towards the possibility of a US and global recession. That's one reason why Workday gave a revenue warning for their next quarter.
Trading over $65 after giving a revenue warning, this looks like an opportunity for the other side of the trade.
it's still a bear market rally, until it isn't. I'll concede maybe 201 on the SPY.....And if it gets there, and that's a big if, it will all come crashing down once again. Short covering or bear market rallies can be brutal....but the rally in some names, or spaces like energy and some tech are unwarranted. Take a look at Workday (WDAY)....Here's a company that reported last night and missed their revenue numbers, and guided lower...and yet the stock is up about 9% today.....It's all short covering, and this too shall pass.
For the past several weeks, he said to use every rally as a selling opportunity, an opportunity to get out of your positions. Now he saying jump back into the market, this rally is for real. Is this guy for real?
Crude will probably start heading back down tomorrow to retest $26-$27 on this news. The API report is solid as a rock.....besides, this wasn't a small miss, it was a huge build, way more than expected.
I would say any advance off the lows so far are more a result of short covering, rather than any substantive fundamental news. Talk of a production freeze is minutia, and would have virtually no effect on the global glut of oil. Reducing rigs is supposed to increase demand and increase supply....that may be so, but keep in mind all the US energy companies are public, many in the S&P 500....If oil goes up near or over $40, they will put those rigs back to work as quickly as possible, in an effort to please shareholders.
Today's news release is absolutely huge....This partnership with Exxon will drive GLNG's stock near the analyst's price targets much quicker than I thought. One analyst has a $48 target, another has an $80 price target....Talk about upside!
I can't find the message boards links, I have to Goog search first. Anyone know?
My left column on the stock selection page only shows "recently viewed", "trending", "gainers", stock "losers", etc. I can't seem to find a line to the boards....What am I missing?
Now it's even more undervalued. Energy got crushed today, although I would argue GLNG is not related to oil at all. Still, the 15% drop today makes absolutely no sense, but then all the energy names were hit as well. A partnership with Exxon and Schlumberger should keep a strong floor underneath this stock.
Hey Ark, thanks for your quick response. I'm glad you didn't get stopped out. If I had read your post about 5-6 years ago, I would have said, nah, the market makers don't manipulate, their job is to provide liquidity. But I've learned a lot the past several years.....and I agree with your theory. Notice how many of the E&P oil names were almost parabolic the past two weeks.....The hedge funds jump in, and then they probably coordinate selling or shorting with each other to take it back down. And of course the financial media creates a narrative to support the moves up and down.
As for GLNG, it will be fine. Karen from Fast Money owns this, and talks about it on air any chance she gets. The partnerships will indeed drive this into the $30's soon. Stay in touch!
Sentiment: Strong Buy
because Wall street has already done the work for her. Man, what a mauling.....
CLR is up almost 100% in just the past four weeks. CLR did not discover a cure for cancer, and clearly is no better than any of the other E&P names, and yet it has advanced much more than the others. It's clearly time to go short.