Yeah I was not really watching then straight up. CONN's tends to sometimes have these fast rallies out of nowhere especially after huge drops like the recent one.
Of course that is possible but if you follow CONN's after these big drops there are those couple of day rip your face off rallies that usually show up this may be one who knows. Be wary of shorting a now value stock after a tremendous fall. I short a lot but I would short CONN's only for a trade on a daily basis if you can even get the shares.
That may be a good sign with the way oil is down big today based on last nights and this mornings oil numbers with very big builds. Of course the trade seems to change day to day also and one must be wary of the downgrades here near the lows which Wall Street firms love to do.
I would guess the combination of their numbers and WAG's numbers it appears the gas tank may be running low without any new news or upgrades. Their monthly SS numbers may be the next catalyst I got out yesterday from the buying at the lower levels for a nice holiday gift I will hope for a market pullback there is always one especially after the 1000 point move in basically a week. Consolidation is healthy....Happy Holiday to longs and shorts!
I would not cover add more shorts over $20 energy is getting hit big again today and I know this is an offshoot of actual energy being they run the tankers. This was a artificial pop for Cramer's hedge fund brothers to short for an additional holiday gift. He is so despicable he knew this is a lightly traded stock and this early big move could happen. Why would he recommend any stock related to any energy when he has been saying energy can still go lower? This one came out of nowhere!
Today is light holiday volume which allows the market to move shares even more. Two things here today is the ex-date and will this be a double top at $18? This looks like a good short after Friday the record date. It is all about a possible merger at this point the shares were near $12 not too long ago. If no merger appears the shares will fade I believe. It seems clear that buyers are in this for one reason and it's not fundamentals the businesses are actually bad for all the majors in this sector.
Then it's usual path lower no matter what the market does. The higher priced trades in the pre-market and the open had me scratching my head without any news. Possibly hedgies playing with smaller volume buys they were making early then shorting heavy as it drifts down.
Goldman did predict a super spike in oil to $200 a few years back.
1.2 million people and 115 stores affected. I would bet that's a preliminary number the company has disclosed and it may end up being a larger amount affected it almost always is days to weeks later.