You have a long way to go before that's done... rest of year. They are still buying... though in lower amounts. But... still buying.
Since when have balance sheets mattered... just BUY BUY BUY this market... It can't ever go down. The years of markets going down are over!
Not my quote... but it has been proven to be somewhat accurate.
The Three Day Rule is a simple, short-term trading rule based on the fact that significant moves are started by the most well-capitalized traders. As a general rule--though I have personally met several exceptions to this rule--the traders with the most money also tend to be the smartest traders. The activities of these smart buyers create the initial move by soaking up the remaining supply within a downtrend and pushing the stock higher. They create a noticeable reversal.
The second day of a move is caused by the "semi-smart" traders who notice that a move is occurring. They are quick to seize the opportunity to profit from the move. Their buying pushes the stock even higher, thereby confirming the validity of the first day's rally. This two-day move then becomes obvious to all.
By the third day, only the slower, poorly capitalized traders are left to buy. This last group may have seen the move, but were not aggressive enough to buy during the first or second day. They tend to be tentative and unsure of themselves. They are only comfortable buying when they see an obvious rally. So after the first two days of strength, they are ready to buy the stock, even at an extreme price.
And who are they buying from? Therein lies the problem. They are buying from the first group - from the smart, well-capitalized traders who are taking profits and are moving onto greener pastures.
Upside is limited and downside could be big once those well-capitalized traders have realized the MASSIVE gain they can lock in at these prices.
Yup... for all talk... I covered at 91.75... I'm out now. Let's see it spike again and I'll short... but just don't want to hold short over the weekend.... Never know what Monday will bring and at one point I was upside down 7k today... out with a profit now of around $4,300.00.... not too shabby... but was freaking Sh!ten Bricks early this morning...
What a reversal across the board!!!
If someone wants them... come get them... Either way nice little short today....
Markets shaving gains.... lets see the first day of many of all indexes in significant negative territory... This Ponzi market has to come down at some point... Why not NOW!
There has been no significant pullback on this for SPLK since Dec 2012... I think this earnings and guidance could just be the catalyst for a correction of sorts for SPLK. It's reasonable...
Yes... there is a LOT OF ROOM to run lower... lot of folks that will not want to lose the massive gains over the fast few weeks...