UPS: Didn’t Get Hammered….Why? $65.01
June 21, 2008 12:19 AM
UPS had to hold $64.01. It made a low of $65.01 on Wednesday. This was not surprising at all as there “should” have been buyers above $64.01. UPS was only down marginally today in a beating of a market. Why? Because people are not going to short it unless both $65.01 and $64.01 clear. Period.
Opps, I forgot, the market is an “efficient mechanism” based on earnings and valuation, what am I thinking…..ha. if you believe that college nonsense, Santa should be giving you toys this winter. For the rest of us, the market has NOTHING to do with reality. It is trading paper, pure and simple.
Comments
Got something to say?
-
Recent Commentary
- Market Call Revisited: Sell Asia
- Market Recap: Not Good
- Market Update: Doesn’t Look Good, 818 and 826
- Market Recap: Buyers Above 818
- Morning Call: Open Gap Bought
- Market Recap: Buying On A Big Number, Now What?
- Morning Call: Still Uncertainty
- Market View: GM Holds The Cards
- Stock Charts VS Market Charts
- Market Recap: Somewhat Predictable, Low Came Where I Said Was Likely
- Morning Call: Unclear, Risk Is High
- Huge Rally: Now What
- Market Comment: Does News Even Matter?
- Market Recap: Close Day Craziness
- Morning Call: Uncertainty
- Market View: Not Sure, Skeptical At Best
- Market Recap: Guess Wrong On A Close Day - You Get Torched
- Market Update: Early Reversal Failed (see comments)
Our Mascot Trading Goal: Ferrari 599
