GREY:STPJF - Post by User
Comment by
green24on Dec 05, 2013 12:52pm
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Post# 21975091
RE:1 million to 13 million in 15 minutes
RE:1 million to 13 million in 15 minutesWell it was essentially in 2 seconds. Of course it was a planned cross. You can't do that sort of volume without having a buyer lined up.
You were warned days ago. I said it would get to .25. Prof got all TA and called for a bounce at .25. Now you've had it.
Why? Obviously someone wanted to lock in a capital loss, and someone else wanted a big ol' pile of super cheap shares.
Why now? The seller was probably worried about the next report's numbers. Hey, we all should be. However in reality, they are very likely to still come in at 4100 bpd or better, so a sell off to this level wouldn't be warranted - if we didn't have a tax loss deadline approaching that makes these kind of moves make sense financially for tax purposes.
So now you get your little bounce, we roll around a bit in the high .20s, maybe low .30s, and wait to see what the November numbers will be.
Warning, if they are under 4000 bpd, you might see this touch .22 or .23 imho. That would be a hell of an entry point as the numbers theoretically start moving consistently higher after that.