Hi!
There was a 20K block just purchased on the offer. The sellers are the little guys giving up their shares to the big boys. That is why the price is stable, and has moved higher. Note the bid/ask sizes prior to your exit, people.
Also, please note that there will be some profit taking here shortly on this secondary level of resistance that has been attained. If the NAZ settles back a bit, as I would expect over the next couple of sessions, GTIS should most likely follow the market somewhat, and pull back at that time.
So, the question to consider for traders is this: Take a hefty and quick profit here, and be satisfied, or hold for the move to 12-13 which is coming very soon. Those selling should be satisfied with their profits. Perhaps buying upstrike calls on pullbacks to cover in case of a runaway would be a good strategy. Also, investors who are willing to be called away should consider writing calls on their positions here. (Check the short term 10 strikes, for example.)
I personally would not go short here, given the momentum, but cautious traders could pick up a quickie if they watch closely as soon as the momentum dries up, which it will.
Personally, I am lightening up a bit on the position, but will hold a partial position for the move toward 13.
Best to all,
xoxo,
V. |
