HTZ did better than the year before which posted a considerable loss so the market would see this as a positive. I'm a bit surprised it is up this much must be shorts covering I guess.
It was OK that GRPN did not go down yesterday when we had a late day selloff. It was being "manipulated" to the upside I guess in that case. Should one who is short claim to ban hedge funds in that case?
to buy other equities to participate in today's rally it would seem. Tomorrow will be interesting for GRPN to see if buyers come back or continued profit-taking.
But this is starting to feel like a top for now. Oil rallied today on the possibility of the Saudis borrowing $10 billion meanwhile oil inventories saw huge builds on both reports. It's smelling like a short squeeze with the fundamentals not justifying the move on oil today. I have a feeling we see both oils under pressure after today when reality kicks in but the market wants to believe for now.
It's starting to feel like a near-term top in oil especially after oil closed slightly up based on the Saudis possibly borrowing $10 billion yet huge builds in both reports. The market may be reading this wrong if the Saudis do get the money they can hold the line even longer without cuts. For now they are piling in for sure.
One more thing they are bidding up even the bad balance sheets today also which hints at machines hitting the shorts.
Yeah they are even bidding up the garbage balance sheets today. Unfortunately I sold DVN from yesterday too early today ($19.89) just before the inventory number. Both numbers were bad yet oil up slightly on the hope the Saudis will borrow money. The market may have this wrong if the Saudis do borrow it will allow them to hold the line longer.
The buying is just too quick in all these small damaged stocks. I don't trust this the market believes oil has bottomed yet there were tremendous builds. I think we see a reversal in oil tomorrow based on the fundamentals and if we get a strong jobs number Friday the dollar strengthens and hits oil further. Right now this is keeping the market green for now but both may have run too far too quickly.
Too far too fast in one day for many of these with shaky balance sheets. Huge oil builds and the markets rallied on the Saudis possibly borrowing money and another rumored meeting of some of the OPEC members. When the oil fundamentals kick back in you will see some consolidation soon.
Yes but so many of these stocks were bought in a frenzied manner which should make one nervous. Even garbage balance sheets ran big today on oil news speculation and ignoring the inventory numbers.
The Street has it as a sell so do any of these really matter anyway? Stocks move on earnings, news and emotion. Although GRPN seems to have petered out a bit in the high $4's.
They are buying all the garbage balance sheets the last two days based on the possibility of OPEC meeting and the Saudis borrowing money. The Saudi news would actually help them hold the line on production but for now oil is slightly higher and it is the weekend. I think it's mostly short covering and oil will pull back based on those inventory builds which the market is ignoring for now.