Hard to say, Westo.
Did you happen to catch the KaloBios story and the etrader that got burned over $100,000 in minutes because he left his short position open and they shot up 800% aftermarket?
A lot of wall street news outlets have picked up the story and are wagging their fingers at inexperienced traders that don't realize a short play has limitless losses. Could be a lot of short positions closing or could be manipulation. Could be insiders buying but I doubt that. Not when we're a month or so away from the 503B.
I really believe this is just going to be really volatile for a while. Happy to see it recover but overall, feeling unemotional because I'm long. I don't have a stop on this because big money can see stops and use it to their advantage and I have a sell order for a price of over $700 pps so my shares can't be borrowed and leant to short sellers.
If you're not familiar, research algorithm trading and spoofing. I've posted on another board about it. It dawned on me that the market may be highly manipulated based on one key figure:
"According to the NYSE Factbook, the average holding period for stocks in 1960 was 100 months (8 years). By 1970 it had dropped to 63 months (5 years). By 1980 it had dropped to 33 months, by 1990 to 26 months, by 2000 to just 14 months, and in 2010 just six months."
According to updated information, some estimates say the average time to hold currently is 11 - 24 seconds. Hard not to believe there are computers involved. And like I said earlier, the only way to beat high frequency trading is low frequency trading. GL! Nice to see you're still hanging in there.
