GREY:SXRZF - Post by User
Post by
PUNJABIon Sep 26, 2012 10:11am
399 Views
Post# 20415345
CCO in the wood shed
CCO in the wood shed CCO is been beaten up really bad this morning. Yesterday at close there was a huge negative imbalance & then right at the open some institutions are running selling programs.
US volume bit higher. There is huge Canadian volume too. Unable to figure out which side is leading in selling.
Today he was stock down to $19.33 down $.90 just in a few minutes. Had a small bounce. CCO is getting over sold.
This morning UUU is not following the leader. Flat at this time.
There are two things to consider while trading U stocks. Direction of overall markets & declining U sector.
At this time U stocks can to be traded as a declining sector only. U ETFs are trading lower. Is the selling coming from U etf / mutual funds ? Yesterday big block just before the close in the case of CCO may have been fund selling. But there was a positive blocks for PDN. Could have been a swap too. The number of shares was similar but there was a big difference in amount. Other U stock did not see big sell orders at the close but but sold off all day.