This explains the huge volume in just the first hour of trading. Does anyone have access to the individual trades? Just wondering if any large blocks were traded? Since Blackstone has done business with American Realty, it would not be surprising if they are picking up shares at this price.
If this volume continues, about 25% of the float will have traded by today's close. It is obvious that some very big shareholders have sold today. But who is buying? There could not be enough demand by individual investors to justify such a huge volume. Large funds/institutions are probably buying today. Maybe Blackstone? Maybe some hedge funds?
Since I am new to ARCP, I was not aware of this.
Just bought when it dropped to 8 for a trade. Definitely oversold.
As long as there is no fraud in their financial statements, everything should be okay. But even if there is, this is still worth a trade for the bounce.
That is a lot of time premium you are paying for. Are you planning to spread at least some of them?
The options market is pricing FB for only a 3.5% move after earnings. Compare this to TWTR which had been priced for a move of over 10%. Use options if you plan to hold through earnings. For example, the Oct 31, 70.00 calls have almost negligible time premium. Or just play it with narrow spreads.
Back in late 2008-early 2009, oil and stocks prices had bottomed around the same time. What if oil drops to 60 or lower per barrel. Will it be different this time?
What about Dennis Gartman's very bearish prediction for oil on Fast Money? He has made so many bad calls in the past that I am hesitant to believe him.
However, oil does have a tendency to be overbought and oversold. Just keep in mind the extreme oversold prices which had occurred in Jan 1999 at $17/barrel and Dec 2008 at $30/barrel.
I was also in a Sears this weekend. The overhead lights were exposed florescent bulbs. They appeared to be old bulbs with a yellowish tinge which creates the depressing mood everyone is talking about. I noticed that JC Penney's had replaced their lights with bulbs which produces a bright and cheerful atmosphere. Sears should take note and do the same.
Remember Guy Adami's comments:
buy at 278
add at 285
sell at 315
stop loss at 270
Looks like he expects 285 to be the breakout level for traders to buy into.
"Market down sears is up" Why do you think this is so?
Is it because of forced short covering by traders who are getting margin calls from their other positions during this market correction?
Cramer has been telling everyone to sell the rallies rather than buy the dips. A lot of the funds are probably doing the same. Until this attitude changes, there cannot be a sustained rally. Interesting market action this morning at 10:20
Are you able to find shares of UVXY to short?
I just bought some SVXY for a trade. Pre-market, the indexes are now near yesterday's low. For this morning, if these lows hold, there may be a rally. However, it will be hard to have a sustained rally since Cramer has been recommending that everyone lighten up their positions by selling into any rally.
Ha Ha! Funny
Icahn is now down over 176 million on NFLX
I wonder if he had hedged his position with put options?