This question could apply to any instrument. Yesterday the market was up all day and RIMM was down all day. Today, just the opposite: all day long with RIMM up in a down market. WHAT IS THE FORCE that gaps the stock UP in the morning when we know it's NOT because of the Globex session of the Nasdaq 100 fuutures? Were there many buy orders placed last night before people went to bed, that this morning the market makers saw an overwhealming buy imbalance and adjusted the bid/ask up for the very first trade? Or were there THAT MANY people up before 6:30 AM today entering buy orders on the books? Or, could it be there were left over buy orders from YESTERDAY that they never executed(since maybee they wanted the stock to be down yesterday in the UP market?) Thanks in advance to experienced trader that can explain. Sure seems at least this stock is manipulated !
Usually its big players who want the stock to go up, but know there is a lot of stops in a certain area. I.E. for it to go up they know they would have to absorb a lot of selling so instead they just gap up and by pass those stops hoping that the people with the stops do not start selling because with the gap up their stops did not get hit and they are now in the money.