The Dow is going to 19,000 like a magnet on mixed economic news it appears. This may be a blow off top soon but either way MU is flying again...impressive. I'm selling a lot of positions today which I have been holding for weeks (TSN, IMPV, CREE.... VLO from yesterday and DG from yesterday) making some good profits on them. This is starting to look like a top soon a lot of irrational moves (ex. NFLX) I could be wrong but I'm raising cash at this point. GL to all!
If this can get to $32 and it does seem to have momentum for now and news about selling the China business shows up after that I think it gets to $34 plus then I'm out. I'm hoping both happen within days of each other and it could be soon I believe. When they sold the Europe business last year the shares got a nice pop possibly the same happens. That's my scenario at least.
I guess when the market starts to see a steady increase in demand and Obama's EPA is gone you will see a change.
Shouldn't this have been done in the teens when they were still losing large amounts per share, before slowing some production and pricing was heading lower toward a bottom. Unless WLT is going under next week (you never know but they have borrowed for the next few years at least) once again S&P and the other rating's agencies are making calls after the fact just like after 2009. I always take these groups call with a grain of salt since they were blessing all the garbage products that WS was creating and bundling that help bring down the world economy. Today these calls rarely affect shares for more than a day or so.
Suddenly there is chatter that the semis are the most overbought since 2000. I would not be surprised if they did pull back but one thing is different earnings and valuations are more in line with the market valuation than in 2000. MU may not totally be classified as a semi but I guess they do lump it in with the group. If we see a decent market correction soon this could break $30 possibly but we all know MU has a mind of it's own and suddenly one day soon it's at $34. That's why we stay glued to our screens isn't it?
It did not act well in a pretty good Nazdaq most of the day. Watch Monday to see how it acts and see if it reaches the aftermarket low post earnings of about the $30.80 area I would bet it rallies from there if it gets there..
End of next week back to $60 today was a flush especially of weak hands. Stops were hit all day long based on the way it would drop .20-.40 a bunch of times. The HFT's ruled this stock today.
for today but watch this next week for a possible snap back. It happens a lot after a flush day like this 7x the normal volume so far. I thought this would have approached $59 by the close but something kept this down all afternoon. I did see a lot of shorts come in once it broke $58. I'm mid $57 average I can wait.
G.L. with the trades. Got some under $57 too. This looks like BBBY trade yesterday that I was in except that was on poor earnings and guidance and it came back off the lows late in the day. I still believe this will be back over $59 by the close. This guy's leaving a year from now this seem a bit overdone. Keep an eye on the general market if it drops and DG moves higher the bottom is in for today.
Who saw the machines drop the trade from $57.89 to the $57.40's in the blink of any eye Then retest the low without the market moving? Thank God for HFT's they allowed the shorts to make some quick profit then flip and go long.
I am so sick of banks and their crying about regulation, Dodd-Frank and low rates. They are 60%-70% of the reason why we have worldwide meltdowns every 10-15 years. They fund terrorism through skimming moneys to countries like Iran and continue to do so. Banks like HSBC has done it for years and still has been criticized by regulators for still being asleep at the wheel. BNB Paribas will plead guilty and pay a $8.9 billion fine. This is mind boggling that this stuff still happens especially after 2008-2009 where the banks and WS almost brought down the world economy. Equate this to GM's cost cutting at the expense of lives and until these execs are criminally prosecuted it will never end. If me or you acted like this we would be in cuffs.
Sold on that quick pop on some rumors that took the stock over $28 for a short time that day. That was the only time I ever bought RDEN and was stuck in it for two weeks until that pop. My other mistake was not shorting the recent move above $29. I posted here on June 2nd that this stock was a dog and would drift lower unless a buyer showed up. Better call a Saint Bernard because this fell off the cliff....Bow Wow!