I would generally agree from the standpoint of a s
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Posted On: 06/25/2020 10:45:23 PM
Re: ClosetInvestor #39229
I would generally agree from the standpoint of a sustained run-up.
However, this currently appears to be somewhat of a feeding frenzy, intentionally "corralled" and muted by MMs, with some short activity thrown in for good measure.
Look at a 5-day chart. With the exception of today, you could have created it with a single rubber stamp. And, today wasn't really that much of a deviation -- with the exception of stronger short activity centered around 2pm ET.
I don't view these charts as representing normal trading activity. A big lift at the open, sideways like a ruler for the rest of the day, and closing at or near the high? And the same thing happening day after day? I could be wrong, but in my opinion there's MM range bounding and chart shaping going on here.
I agree there will be intraday pull backs, and hours of continued sideways action -- but I currently don't see the daily upward trend abating until results are released -- at which point we are either going up or down at a shocking rate of speed.
I think we'll see a uniform $0.50 to $1.00 of appreciation per day until the results are released. And I think as we get closer to that day, or at least investor's perception of when that day might happen, the appreciation will likely increase incrementally.
For example tomorrow, with the interim P3 S/C potentially winding up on Sunday the 28th, we could see more than $1.00 of appreciation on the assumption that NP might issue a PR on Monday morning at 6am ET. FOMO in full bloom.
Honestly, I don't have a horse in this race, meaning: I don't care if I'm right. This is some of the best entertainment that has ever been displayed on my computer screen.
However, this currently appears to be somewhat of a feeding frenzy, intentionally "corralled" and muted by MMs, with some short activity thrown in for good measure.
Look at a 5-day chart. With the exception of today, you could have created it with a single rubber stamp. And, today wasn't really that much of a deviation -- with the exception of stronger short activity centered around 2pm ET.
I don't view these charts as representing normal trading activity. A big lift at the open, sideways like a ruler for the rest of the day, and closing at or near the high? And the same thing happening day after day? I could be wrong, but in my opinion there's MM range bounding and chart shaping going on here.
I agree there will be intraday pull backs, and hours of continued sideways action -- but I currently don't see the daily upward trend abating until results are released -- at which point we are either going up or down at a shocking rate of speed.
I think we'll see a uniform $0.50 to $1.00 of appreciation per day until the results are released. And I think as we get closer to that day, or at least investor's perception of when that day might happen, the appreciation will likely increase incrementally.
For example tomorrow, with the interim P3 S/C potentially winding up on Sunday the 28th, we could see more than $1.00 of appreciation on the assumption that NP might issue a PR on Monday morning at 6am ET. FOMO in full bloom.
Honestly, I don't have a horse in this race, meaning: I don't care if I'm right. This is some of the best entertainment that has ever been displayed on my computer screen.
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