The price exploded in the last 10 minutes. I think that's interesting. I know I get a little bit edgy in the last 10 minutes because that's often your last chance to either get out or get in at a decent price. I've seen some gut wrenching post-close/pre-open activity in the last few months.
To me, the volume spike suggests that people are worried about the price going higher. Either bulls who think they won't see sub-$18 for a while, or shorts who a scared they'll be even further behind tomorrow.
A lot of background noise relating to a relief rally in the Dow too. If we get some sort of reversal, or sign that the financial system is strengthening, then people short on a Bank could get savaged. The converse is obviously true also. I'm carrying a bit of risk by holding MQG overnight. If the US government had decided not to bail out AIG for instance, all the banks would have been dumped hard.
Z
MQG Price at posting:
$17.60 Sentiment: ST Buy Disclosure: Held
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