price right under 18,00 when the news first appeared, price shot to 20 the next day, way too little every one said, lingers near 20 retreats briefly back under 18.00, joint news conference, shoots back over 20, then collapses as the macd rolls over to a new low of 13.50, news reports out 1;45 am friday, price shoots up over 16 premarket, then the gap up is sold aggressively and the price goes red for the day and the buck is given back before a rebound, but with a close below the pre-market buys.
did the same interest previously place a floor on the stock price?
it was only last friday that mc clellan projected a relief rally before "more significant damage in september, and beyond" and longs now are all giddy again
and as jason leavitt recently said, some of the biggest bounces occur in downtrends
wmutual dropped from the 40's to 10, a mere 75 percent compared to the 100 percent bounce from 10 to 20 during the bear market, of course then came the drop from 20 to essentially zip, but the quickest biggest move occurred during the financial crisis, a 100 percent one
if there were going to be a bidding war, the price wouldn't have retreated over 30 percent from 20.00
and on the close, while the macd on intc, smh, and mu are pointing up, positive, the bars are at the zero line, at best, neutral.
nice counter trend rallies off lower lows
that's not the real problem, the real problem would be the feds, and that minor detail may never be resolved
black candle on the daily and macd lines at convergence on the same,,the same for intc and the smh, good place for the rebound rally to fail
if you read the news, easy to see no offer will shortly be forthcoming, more of an exploratory mission
the sky didn't fall, it never does, but prices do
oh happy days, intc is way up there at 27.66 a share, a massive rally since the post earnings night high of 32 a share and your self proclaimed, well timed add the next day on the great earnings, per you, right before the decline from the 29's and the bounce back to that level right before the swoon to new lows
congrats, you're less poorer than you were 2 days ago on all the new adds, but still underwater
great job of managing money
you may get another shot at hedging
suggest you check out leavitt brothers, ie jason leavitt;s daily free blog, he's actually quite good, and the free daily blog on the website is good for a sense of market direction, first thing i read in the morning if no hearings, trials such as this morning
interestingly mu showed oversold on the 5 minute chart at 14.63 about 9 am, having been as high as 16 premarket, once the gap on the daily filled in the high 15's, that was it, massive selling down to the .33's before the last hour stick save
oh, i don't believe intc will be hitting 29 anywhere in the near future, the point was Wally would need at least that to break even on his added intc shares.
as Jason Leavitt has said many times,and quite recently, some of the biggest rallies come in down trends with rallies that then fail
remember the flash crash, dow down 1000 in 2010 i believe, sharp rebound intraday the after, well those lows were revisited in very short order, all the way down to that day's lows which puts intc in the 24's
as for the Jeffries mu upgrade, the same firm that upgraded at 17.14 i believe, about what wally appears to need excluding commissions to break even on all those adds since the crash from 24
if you sold it 2 days after this post of your for 20.00 a share on the way to the 13's
and there was no reason to sell at 34 in 2004, just wait 10 years for a second chance
and amat, poor amat, 26 in 2004, and still has never gotten back there
the smh was 45 in 2004, 45.00 in october 07, the last bull peak, it almost got back there, ie 45.00 early monday
but sure the bull market that started in march of 2009 should last forever, that ain't gonna happen
i read somewhere jeffries upgraded mu today, if i'm not mistaken, this is the same firm that upgraded and said aggressively buy at 17.14
Intc at the lofty price of 27.50 would still be over 10.40 off the high, ie still in a bear market.
and the "correction" is hardly over, the downtrend in the markets just began. a 2 day relief rally does not
change the overall prevailing trend which is down.
MU has had about a 20 percent move off the most recent bottom, 13.50 to 15.93, and you still even more just to get out from underwater. keep act like your actually making money, when people know far better
today on mu the gap filled, from that poiint nothing but down, and poor INTC with all those buys above 29.00, one ugly black candle today