Yep, I'm still hanging my hat on 60 for today's close, as foolish as that seems. I've been watching the tape very closely today. MU is in fact tracking the rest of the market today, gap-up and all, getting goosed hard right on the hour, every hour, so far. (Just like yesterday, the day's schedule seems to have been well-advertised, because the MU specialists started to run it in the right direction two or three minutes before of the rest of the market, three out of three times.)
Plenty of buy stops in place at 64 and 65. I'd say all of the action at the peak (and there was a lot of it) was grabbing those buys, faster than the screen could update them, and it looks like it was hard to get an uptick on the way down for shorting. It's back at 65 as I write, but trading at a leisurely pace.
Dunno if They're itching to get out for the weekend and planning a big computerized market-wide sell program at 1:30, or if they'll stay and fine-tune the option expiration by hand all the way into 4:02. The direction They force it at noon ET probably tells whether it closes higher or lower from that point. |
