Wow - that was a brutal last few minutes. Funds seem to be dumping the last few days of the year despite all of the upbeat news and upgrades. Look for big move South if market goes.
I still can't believe that I for some reason hold this stock. It is one of the easiest shorts out there at this point. There is no reason for it to move higher at all near term. It would take signs showing a turnaround in Brazil - not happening any time soon. Selling today at anything over 13.6 and going short.
This guy has made some amazing calls over the years, oftentimes at brave contrarian points
Correctly called last Friday's shot up when everyone was saying the opposite
This now has negative divergence with XLF and is moving down. Unfortunate as it has all happened in just a few day. Time to sell and pick up again at lower price.
I stupidly bought back in this week and actually have fear holding this. There are seemingly many more macro issues in Brazil now than there $12 or lower. You will also notice the strong divergence between PBR and the EWZ indicating lower movements likely when tied in with end of year stock selling.
GRPN is trading at or under all meaningful moving averages. The 200 day at 8.5 is holding this thing up as it has bounced off twice recently. Most investment firms feel that this will probably move down towards that number as you can see that any move upward is soundly sold off.
They say that there is almost no volume on GRPN on a huge up day - almost a perfect balance between buyers and sellers since Monday. Something will give near term. Either it pops or walks back down to 8.6
Don't see this happening any time soon. With a huge jobs number, we could be right back at $8.6 before you know it.
MM stepped in at $8.4 and pushed this down. Relented at $8.23. Everyone expects this to fill gap back - don't expect a bump into earnings. Would expect more downward pressure.