Replying to self here. Thanks so much for your speedy and helpful buying. Funny, it happened instantly after my post. Guess I should ask for what I want more often. How about a $100 bounce in AAPL please?
Could you please begin covering gradually by putting in 100 share market orders through the day? Might still be cheaper than waiting for a sudden big move to cover and would certainly make me feel better about being long. Thanks in advance.
With minimal retail participation in the market these days, manipulation is the rule of the day. Yesterday I watched MAKO, a $10.50 stock with recent good news sell off .50 before bouncing back to close higher--then today gets an upgrade. Stocks are often pushed down to a point where retail holders dump them and then magically they have another run. Look at CRR lately, or MDVN, or many others. I think APA will have such a run, but hard to know where this begins. Hopefully, not much lower than here.
Interesting timing but glad to see it. Yesterdays move lower was nothing more than manipulation to allow certain parties to pick up the stock cheaply before this upgrade.
Don't waste your money or effort. The SEC knows all about it and does nothing. The only way to win is to figure out how the game is played and play along. The fact that the press is captured and works for hedge funds makes it very difficult.
n16--Do you have a short position or just stating your opinion? We may have seen the bottom this morning.
Wes, you still short this one? Looks like a probable bottom here (unless the market falls apart). Wish I had sold at $78 but sold for a flat trade and now back in, as I think people will see this as a bargain. Amazing the beating VXX continues to get!
Norse--Agreed that does help. Today's action was pure manipulation from some player picking up cheap shares IMO. Some of the bashing may be a part of that. MAKO is very cheap here.
Easy target for shorts at the moment, as few want to catch a falling knife. But the fall doesn't tell us what the future will be with any certainty. Hedge funds often push a stock down to ridiculous lows in order to accumulate cheap shares. It would certainly be easy to do at these levels. Time will tell. But I would definitely not go in big with this pattern. For those who want to nibble, consider buying long term out of the money calls on the cheap.
Some of that nice volume was selling the highs, but looking like a good day at this stage.
Wes--I had wondered if you were. I went long around $76. Hate to be betting against you, but after seeing it go sideways for a couple weeks, I think we MAY be ready to turn higher. I agree that APA hasn't given investors a lot to get excited about lately, but with so many stocks having had such big moves. we may see new money looking for stocks that have been left behind. I'm just looking for quick $2-$5 here, but might stay longer if volume improves as the stock moves higher.
The good news is that those same shorts can be nice fuel to move us higher if we start getting some volume and chatter about getting close to a deal. Having Ethan speaking out more about opportunities in the sector can't hurt.
Going higher because I sold half my position at $23. I'll be very happy if it keeps going higher. May be related to the "affordable care act" and women beginning to realize they can have the procedure done with little to no out of pocket expense whatsoever if they are insured. I'm enjoying seeing this steady march higher and higher.
Anyone following this issue closely and have a take on where it goes? Could set off a firestorm of short covering at some point if they can repeal it.
Can't post the link, but search "repeal of medical device tax" and you will find immediately. Don, you or others here have any guess about where this goes?
Yesterday's move in MAKO was a buying opportunity IMO. Time will tell.
I'm guessing someone with a significant position finally got fed up with it and pressed the sell button--just wanting OUT regardless of the price. We don't need any more bad news here.