How did they come up with 390 for a close on GOOG? It was trading around 386 at the close and then magically printed 390 for a closing price. Offering was completed at 389.75.
5 million shares offering, all they needed to do was push it up 4 points and GOOG makes an extra 20 million dollars. I think there was a bunch of BUY MOC orders which gapped it to close for 390.
Yeah, but what was strange is that even after they printed the 390 close, it was still trading between 386 and 387 for 10 minutes after the close, before gradually rising towards the 390 level.
GOOG Google breaks above the 400.00 mark for the first time in 2 months, eyeing gap low of 406.50 (401.10 +11.40) -Update- -Technical-
Almost 10 mil shares already.... If market holds up well, there could be a big short squeeze in the afternoon... I wouldn't be short today.
We might as well see some selling pressure at close as a good time to get out and stay clean till next buy entry. Short interest for GOOG is not that high. Days to cover is a couple of hours.