They were buying bad stocks too like HTZ into the close. The problem with RAD is the market now cares about debt and Hillary's tweet. That tweet even hurt WBA and CVS recently.
I'm still long but the tremendous rise of Uber should concern all. Investor Day had better say some new positives about something possibly they want to sell themselves would be the best news possible.
Almost, this was a crazy day for sure. Let's see Monday if we build on it or give a lot back.
The Dow closed up 200 points. This was a classic reversal based on yesterday's lows and highs and machine driven technical buying all afternoon. They were buying everything late even bad stocks. MU got a second wind late after struggling most of the day. This was a very strange day let's see what happens Monday.
With poor markets and always a possibility of a flash crash I bet we see a print under $15 again at some point soon. The quality of earnings were not robust but it's a start for MU in the right direction.
No problem just stating the facts. This economy is slowing look at the two prior months revisions -59,000 jobs. Macro matters to share prices this number is a shocker and changed the S&P futures by near 30 points after it came out.
Since the markets have started to price in a Fed move soon I think the market finally wants stronger economic numbers. If we get a 220,000 or higher number I think you see a decent rally today. The problem is that the PMIs are starting to weaken along with some of the other numbers too. What some so-called experts are finally starting to realize and I have been saying for the past few years is that all these stock buybacks and dividend increases did was prop up stock prices to a point instead companies should have been re-investing in their business along with a combination of hiring and better pay. If we had that the past few years GDP would be steadily between 3-4%.
$15.36 newer low now. Need to see the jobs number that can change the futures, market direction and MU's action too.
Based on the "not as bad as it could have been report" I doubt it gets there soon unless markets take off in the next few weeks or months which seems unlikely. It probably has put a floor in on that flash crash $13.50 back in late August. It appears for now a $15-$16 stock which is fine to trade since MU gives you pretty good volatility each day with a nice price spread.