especially when it was up last night over 100% in the AH in one day. These were momentum guys playing the small float yesterday. This happens all the time like I posted last night yesterday was about stock supply and demand today it's about profit-taking.
I kind of laughed last night at the posters who thought $12 and higher after it was up over 100% in the after hours in one day. This is the market not fantasy land. I was shorting that $9.50 area last night along with the upper $8's near the close. Just covered too near $8 too soon but that's OK. The momentum guys came with the small float and they always leave as fast as they come in.
I saw the other day it went from .07 to .10 and anytime it moved like that in the past in one day it was a sign someone knew something and it was about to fly. I am kicking myself for not buying more a few days ago after that move. Now I read the article about this Sparkee and they are looking into eastern Europe, selected markets in South America and approval in the US in addition to China. This rally may live off that story for a bit longer now that momentum guys have found ZAAP so this may double from here so I will now move it from the bottom of the screen to the middle and pay attention to the trade. I trade many stocks each week and was not even paying attention to ZAAP especially since the move happened so late in the day on big volume so it may have more room to run but I know it will come back down quick after a few days. ZAAP was in the $1.70's three years ago so who knows.
The only reason this stock will move higher early tomorrow is the small float (supply and demand) of the shares. I may be wrong but I figure an early pop tomorrow then the momentum guys run. If I'm wrong this can be $10+ tomorrow or back near $8 by Monday.
Small float caused this move today. This AAPL deal is 10% of revenue. Take profits early tomorrow before the market takes them from you. I'm looking to short the first big move tomorrow which may be the pre-market. I could be wrong but this will be back to $8 by late tomorrow or Monday. I got a little above $9.50 in the AH I figure the brokers are going to hold back the available shares real soon.
When I read quotes like this I start to think back to 2000. They may run it up early but you can bet a large dose of profit-taking will arrive. This is a nice score but it accounts for 10% of their revenue I read. The momentum guys are in this with the small float play but they do leave quick when they leave. The stock is now up 100% in the AH.
Yet it says AAPL accounts for 10% of it's revenue in the news. Is that right? If so this is overdone possibly to the upside in one day. This move was mostly because of the small float. I will bet the shares will be unavailable to short tomorrow the brokers will hold them. Doubles in one day rarely hold so I'll be watching tomorrow.
You want additional traffic do what one of these article writers here on Yahoo said about a week or so ago start putting Starbucks inside stores that will bring people in who may not have even thought about going in to a Best Buy. I believe it would work better than some of the tech kiosks they have already in Best Buys.
In that case the shares should be back into the low to mid $70's in due time especially if there is no news pertaining to insurers questioning the drug like Aetna did awhile back. I would suppose Citron made their money and this may be the last claim from them that will hit the shares so dramatically for quite awhile or forever.
Now anything can happen going forward with QCOR and the pending decision from the FDA but the way it's acting the market is starting to believe that Citron's allegations may be slowly getting shot down. "If" the FDA dismisses their claims you will witness one of the fastest moves in a stock you may witness for a long time. That's of course if the share price is not already in the $70's already. Let us not forget they have released a bunch of good earnings reports in a row recently so that may fuel the rally if that scenario occurs. As the longs were sweating last week one would guess the shorts who continue to hold their positions must be nervous this week. The market has a funny way of doing this to both sides of the battle in so many cases like this.
It tells me RSH polluted the trade today that's all. It was a poor performance but in this market you see reversals from one day to the next. Don't be surprised if it is green tomorrow even if the Dow drifts lower during the day.
Thank the Shack. BBY had no bid even in the pre-market with the futures up around 175 at the open thanks to the horrible RSH earnings or should I say loses. Guilt by association for at least one day. Let's see if it snaps back some tomorrow even if the market goes higher or lower.