whoa, there is a LOT of shares trading hands right now at $31.
Think you're right on the mark with your price comments, as well as sidebar concerning rate hike and pricing in Sep. futures. Its funny how a rate hike can boost the market at times, but since the market is a discounting mechanism, if the discounting has already been done, then it makes sense for a rally.
I just checked back and we moved to even for the day. It took one hour to blow out profit taking, drop as opportunist came in looking for a good deal, then re-build a base of support at the prior close. Whoever says the market is no longer efficient is screwy in the head.
As long as we maintain good volume, we're in good shape :o)
Regards, JB
P.S. There we go, the ask just moved the price to $31 5/16, so the bid is no longer setting the tempo, we're in the black! |
