That isn't going to happen. Stocks always retrace to some extent. But now there is almost a billion worth of new support. We will see where the new benchmark is established at the bell.
The MM's did nothing but cover their shorts today before it got away from them. But now even the MM doesn't want it to go lower now that thier positions have been re-established if they in fact covered as there was a couple of form T's at the end.
Once the MM's have what they need they will push this up in a hurry. What many fail to consider is the MM makes a profit either way up or down when they play the cards right. It may not be right to me or you but it's right to them.
Today they worked against us and gave the sugar tree a shake and pulled out the stops. Personally I never put a stop on a non-marginal stock because the MM can see it down their and will sell a tad to reach down and get them. Same goes for a trigger, even if it's undeclared they know what and where it is, it's their job to know.
What I do is put a sell on the shares that I have for say 15 dollars. This way it is against the law for the MM to use your shares in back and fourth trading practices. They all do it but when you put that high dollar sell on it takes your shares out of the equation and there is less for them to use to manipulate. The beauty is eventually they will work in our favor considering the display we witnessed today.
From experience this wasn't a bad at all as it was taking shape all day long for what's to come. Look how many days it would have took otherwise to clean the house and move nearly a billion. I look at it as a fresh start, they can't hold it back everyday with that kind of activity and simply won't as they are in business to make money just the same. You will find that people will hold stronger on an incline then get scared and sell on a decline like we seen today which in my opinion doesn't really represent true market value at this point in the game and that's all it is right now is a game.
With everything that is to come, IMO, you honestly couldn't be in a better place at a better time. I have seen this same pattern with other stocks and you just may be pleasently surprised how it plays out.
As always your own DD is required.
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