Well Coug,
Since the party is over, And what happened, happened.. I hope I took
a few car keys away so some guests didn't drive away and get hurt..
I didn't want some innocents, newbies, LURKERS, to get hurt. Maybe I'm
too blunt but I seen the car wreck coming... I probably should have
entered a lot of apologetic remarks prefacing my comments, I'm sorry I
didn't.. But I wanted to warn people how the market works..It is BAAD
and cut throat..
1. SELL THE NEWS in this hot money environment, Don't BUY IT. THE
NEWS was OUT FRIDAY, or BEFORE.. WEB SITE ANNOUNCED, CFO RESIGNING,
if there is ONE PERSON YOU DO NOT want TO RESIGN BEFORE the big
DAY, it IS the Chief Financial Officer, IMO... IF the person with the keys to the safe BAILS or is kicked overboard ANYTIME, it is a big RED FLAG to me...Especially before the big day..
2. It's not all Shorters having their Day,, It is the SAVVY LONGs
selling into that early morning strength.. They overwhelm the
small NAIVE Buyers.. The Market Makers are not SHAKING OUT weak
LONGs as I read on some of these threads. They look at the order
book..They have it made as it is...Even a narrow spread on a Stock that trades millions of shares is enough for them to make out
well..
Remember the old story about a well known 1930's type gangster
that visited the NYSE and watched a Specialist in Action.. He
quoted something to the fact that "if he could have gotten into that
racket, he would have never entered into a life of crime"
So IMO, anybody that blames shorters and MMs for these days is only
looking for an excuse. .. Sure they cause bumps in the road but
they are not the sole cause of a train wreck like this..
Another thing to NEWBIES, don't bet the ranch on any one play..
5-10 percent is the very max for me..
Anyway good luck all and again I'm sorry if I stepped on some toes..
the Coug ......talking too much to himself.... Thinking about buying
down here.. |
