Hudson's Bay Co. HBAYF

RE:RE:Interesting Volume

[skyplt]

Indeed telladega, I expected the volume and gains would be somewhat muted due to it being a holiday in the USA.  2 million shares traded, and one penny off of 9.95 is a good thing in my mind.  I am not so sure management will make any announcements to prop up their stock.  I would expect they are seriously looking at spinning off a REIT sooner than later to protect themselves from a takeover.  

I am going to have to noodle today's action around during a long evening walk.  My spider sense is telling me that more than retail investors (2 million shares) are in play.  For example, around the 9.90 to 9.93 mark there were very large blocks of shares on the bid/ask...and they were moving.  Usually, as I have seen in the past with other stocks, when you see 20,000 shares in the ask the price kind of stagnates.  We saw that mid afternoon around 9.80.  Then it broke around 3 pm.

Good advice by mingzhu regarding buying on the rise verses catching a falling knife.  I bit the bullet and bought at 9.80 (on margin, I have no cash left on the table) and sold at 9.95.  It was a bit of a daytrade but a confidence booster.  I succeeded in bringing my average cost down by 10 cents.  Every little bit helps.

As for prognostication for tomorrow.  With folks south of the border back to work I expect high volumes again.  So far so good regarding Trump Tweets...right now he is on Mercedes case.  

I suspect something other than retail investors and a short squeeze is in the works.  

I am definitely less sure of what price to expect than I was on Friday and today.  I am going to go out on a limb and say low to mid 10.  I will have a better idea when I look at Asia and Europe as well as the pre-market; though I find pre-market kind of a crapshoot.

I certainly hope things worked out well for folks today.