Today is the "money shot"...
Sellers out for what ever reason...you will always get sellers, especially on Friday...but they have been eagerly met by buyers, for what amounts to a minimal change in price.
In essence, what we are seeing is the last stages of the free-float swap from the temps back to the perms...or at least a shift more in favour of one than the other.
Market spooked at the moment...most simply do not know what to do, as such are selling stocks they should hold...holding stocks they should not...and basically making a real mess of it all.
In time of doubt, seek quality management with quantifiable, quality assets...you will not go wrong!
KEY is simply following the same pattern as it did on the previous spike ftom 6.7c to 26c or so (288%)...eventually forming support in the 16c line (up 138% from the break)...only this time whe have seen a spike from 23.5c to 50c (112%) with support apparently forming in the 32c line (up 36% from the break)...these are all very comfortable, very sustainable numbers.
They are also to be expected.
When you sell out of a stock like KEY...then look back to realise you can't get back in cheaper because others are lining up at your sell price, or worse, when you place buy orders and others almost immediately place one above yours...well suffie to say that if you sold, you know you have done the wrong thing!
There will bill be a few feeling this way I suspect?
lol
We can't buy options under 16c...will struggle to buy more than 100k heads under 34c...and now volumes have all but dried up! This is the point where recent sellers start to ask themselves..."have I done the right thing"?
lol...there will always be those who sell at the bottom of each cycle...these are the laws of the markets.
Bought more today, with 100% "look away" confidence!
Cheers!
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