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I wonder what sort of fat finger justification we will find about these sharp moves on 3D printing stocks.
Is the whole investment community running crazy like during the dot com era?
Pascal
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Hi Pascal,
I noted this yesterday as well. 1st day of the month is often strong as IRA $$ flood into mutual funds and they buy what they will.
The volume and LEV levels were huge on these names. They reversed about 1/2 of their gains, but I think we gotta pay attention to this area in the coming days/weeks to see whether they hold up and if you're a discretionary traders, find a low-risk entry. BTW - DDD had an awesome looking 20d LEV chart before yesterday.
I think we need to consider that mutual funds were buying 3d printers like crazy on Jul 1.
Take care,
Shawn
[QUOTE=shawn_molodow;28264]Hi Pascal,
I noted this yesterday as well. 1st day of the month is often strong as IRA $$ flood into mutual funds and they buy what they will.
The volume and LEV levels were huge on these names. They reversed about 1/2 of their gains, but I think we gotta pay attention to this area in the coming days/weeks to see whether they hold up and if you're a discretionary traders, find a low-risk entry. BTW - DDD had an awesome looking 20d LEV chart before yesterday.
I think we need to consider that mutual funds were buying 3d printers like crazy on Jul 1.
Take care,
Shawn[/QUOTE]
I count that DDD at last report had 33% of the float held short. This is 34 million shares. A lot of these shares are being covered by looks of the chart. Anyone holding a short position yesterday would have been under extreme pressure. Volume yesterday was 20 million shares, so perhaps the shorts haven't totally cleared.