Let me join in and say that I day trade it and there was just a major buy that renders a rather firm opinion of the value in the offering. Since the major move up in a single minute was on excellent volume that was not mirrored, as of yet, by corresponding profit taking, it looks to me like all the short artists just got their heads handed to them by a big player who knows how to force the shorter to sell by stepping into this stock in a big, quick buy.
On a 3 minute chart, the buy was 241K shares in 3 minutes on a price of $273.45 to $300.00 There was no corresponding crash of profit takers. Thats why I see this as a big player taking out the "all-too-self-assured" short artist as the low hanging fruit that they were. And having forced all those shorters to cover their shorts that way, and given that there is no corresponding crash back down, this thing looks to have a toe hold, at the very least, at the level just below the offering price. As far as the chart itself goes, it looks to me like the market has voted on whether $305 was too high a price for the offering, and they have registered their opinion as a very affirming "YOU BETCHA" in favor of (in support of) that $305 offering price as being supportable.
I mean, lookit folks..... the volume was 241K at a approx $286.5 average price of the 3 minutes of buying... thats $69 million value of the trade that happened in that 3 minute span. Thats huge, even for this stock & if the short artist that have dominated the posts on this board are representative of the market prior to that 3 minute move, then the fact that this did not crash after the move is very, very instructive.
JMHO, but thats how I see it.
Imperial Whazoo
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