Read how the NYSE Specialist works the Open and Close. Real demand was $129, they tried a little shake n bake and lucky you caught it. Nice trade!
Yes, my order was a standing order since 8am. So he hit my bid yes. But he traded his way down there, 25-30c at a clip. It wasn’t just a trade at $129.10 followed by a trade at $127.95. The seller traded his way down and back up again. All within 3-4 minutes
The “mystery” is that this is not a thinly traded stock. It’s a heavily traded Dow component. And although it was technically pre-market, it was 927 am when there should have been 100 buyers lining up their bids
Haha guru, yes, that is what I was thinking. (To be fair, it was a dozen or more ticks/trades). Could this not be true? Looks like the stock is headed to new all-time highs at the moment, so perhaps my hypothesis is nullified, unless the truth of it could be borne out over a period of days. Not sure really.
Melting up, lol. Still a "mystery" why he came down and picked me off at $127.95 at 9:27am. Still waiting for the mystery to be solved, lol.
Down significantly after hours. My hunch looks like it could be playing out. My hunch says this is a multi-day game by a big seller. Initial target 126.
Could have been someone short and on some inside news or info knew the market was going up so they covered their short before it started up. Working it down makes me think someone was hitting the bids cause they are short and want out. If it was a bearish institution pushing price down the subsequent move would have been down. Most likely someone wanted out of their short.
That’s the “127.95 at 9:27” curse !!! Those who trade it are punished, Forever Punished ! Damned !!! Never trade again 127.95 at 9:27. God bless you. Take care. Be careful. Amen.
@Math_Wiz, good luck with your trade. imagine another drop to $100, what then, are you contemplating a wait/sideline, buy or given todays pre-market, would you short it? could end of week WMT be back to $130+