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re: Exxon is in the $63 range ** back on topic
Posted on 2/17/10 at 7:30 am to LSURussian
Posted on 2/17/10 at 7:30 am to LSURussian
Russian,
A synopsis of the facts of the bannage would be appreciated.
A synopsis of the facts of the bannage would be appreciated.
This post was edited on 2/17/10 at 7:59 am
0
Posted on 2/17/10 at 7:40 am to thelawisafterme
quote:
BTW xom is up 2.28% today
For those asking about MH's and the Colonel's situation, I'd prefer it if you would email Chicken and ask. I don't want to be caught in the middle of this plus it's not really my place. Maybe you could ask an admin who would know more than me anyway.
I didn't email Zilla. I was just screwing with his head.
Posted on 2/17/10 at 11:31 am to LSURussian
quote:
Plus with many of those 'penny' stocks, like MVIS, in order to buy enough shares to make any money on the small $ increases, it was difficult to do without moving the price for the stock. Both on the up (buy) side and the down (sell) side. If you enter an order for 40,000 shares, either buy or sell, the market moves. They are just too thinly traded.
This is why you sit on the bid AND the ask. If you're playing a stock that trades on average 30k in a day and you put 15k on bid, there's a slim chance that anyone is going to be able to take you out on the bid. So you basically control how low the stock will go that day. Then every fill you get on the bid you immediately put up for sale at the ask.
But I see what you're saying.
Posted on 2/17/10 at 11:34 am to Zilla
MVIS has nice support at 2.45. However, the stock is somewhat overbought and is trading outside of its upper bollinger band. The good news for those looking to hold 2.45 is that volume has dried up, so this appears to be only a low-volume pullback. That being said, I do think this one will fall back down and retest the 20-day moving average at around 2.20-2.30. Low volume is good, but if it continues for too long people get bored and end up selling. No one buys out of boredom.
Posted on 2/17/10 at 11:38 am to RedStickBR
I wish I could get you to do that once a week...thanks
Posted on 2/17/10 at 11:40 am to Zilla
You can, but not on this site. If you want me to post a live chart that updates to the minute, leave me your email address and I'll show you where such a chart can be found. Notice these are only screenshots ... not very useful.
Posted on 2/17/10 at 11:42 am to RedStickBR
Actually looks like it could test my support level today. However, there is a TON of bid support between 2.44 and 2.48 on L2.
Posted on 2/17/10 at 11:47 am to RedStickBR
russianisdense@yahoo.com
This post was edited on 2/17/10 at 4:20 pm
Posted on 2/17/10 at 11:58 am to Zilla
Email sent.
Posted on 2/17/10 at 12:20 pm to LSURussian
quote:
Pfffftttt! According to my Schwab trading screen, it closed after hours trading with a spread of 2.18 - 3.57.
Nothing like a 50% spread between bid and ask prices.
Post-afterhours quotes are always messed up. Even for a lot of big boards. This is because most market makers get off of the L2 at the end of the day and then jump back on in pre-market trading.
Posted on 2/17/10 at 1:59 pm to RedStickBR
quote:I never buy a stock which is trading outside of its upper bollinger band, fwiw.
is trading outside of its upper bollinger band
This post was edited on 2/17/10 at 2:01 pm
Posted on 2/17/10 at 1:59 pm to RedStickBR
quote:Not so much for the widely held I've noticed.
Post-afterhours quotes are always messed up.
Posted on 2/17/10 at 2:14 pm to LSURussian
Right, and neither would I. I am in agreement that it will fall further to around 2.20-2.30.
Posted on 2/17/10 at 2:15 pm to LSURussian
Do you have L2? As soon as the closing bell rings, market makers start falling off left and right, for just about every security. And then even more fall off after AH.
Posted on 2/17/10 at 2:21 pm to RedStickBR
The bid/ask spreads that I see on my Schwab (StreetSmart Pro) trading screen get wider after the closing bell. But within a few minutes once after hours trading kicks in the widely held stocks, like INTC for example, will usually maintain a 1 cent spread between bid/ask. It's a really big spread when it increases to more than 2 cents.
Posted on 2/17/10 at 2:25 pm to LSURussian
In other news, it looks like XOM will close down some today. Also, Berkshire Hathaway lowered its energy holdings substantially (COP and XOM), probably in order to raise capital for Burlington.
Posted on 2/17/10 at 2:26 pm to LSURussian
I gotcha. Well, the point I was making was that the MVIS spread post-afterhours is not what the spread would be when trading for the next day begins.
Posted on 2/17/10 at 2:27 pm to RedStickBR
I understand that. My point was the little, thinly traded penny stocks are usually the ones which show such a big spread after hours. I was not saying I thought that same spread would occur when the market opened the next day.
BTW, what is a "bollinger band"?
BTW, what is a "bollinger band"?
Posted on 2/17/10 at 2:31 pm to LSUtoOmaha
quote:
it looks like XOM will close down some today. Also, Berkshire Hathaway lowered its energy holdings substantially (COP and XOM), probably in order to raise capital for Burlington.
So THAT is what is causing it. I wondered what was up with XOM. My other oil related stocks, HAL and BHI are both up today and since oil is also up, I knew something was moving XOM. I won't sell XOM now so I didn't bother to look. Thanks!
I had asked Warren to call me before he dumped XOM, but......
Posted on 2/17/10 at 2:38 pm to LSURussian
I have a hard time believing that "news" like this actually shifts stocks. Do other people really sell JUST because Warren did? Seems more like random fluctuations to me. Plus, energy as a sector is down today.
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