I'm not trading the tape per se - but I do notice when it flashes a big "WHAT THE HELL" signals - and it shouldn't be weak in a strong market. Maybe for a day or 2 - but not nearly a month.
9/18 was the last decent day. And it opened at the highs and has sold off since. Is there any reason a fund might be slowly/quietly sellign this name? Any major data comign up or recent news/headlines that might make a fund just say - it's not worth riding this any more?
Here's an excerpt from an email I sent out to another fund manager:
"Something is VERY wrong. I'm a decent read of the tape - and this is saying that there's a big seller - now the orders are being executed slowly - but the real question is who is selling and why. It's unlikely it’s a short, they would have been leaning on the bids. It feels like a large long who's liquidating and trying to do it as orderly as is possible."
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