Big trading day. A lot of shares trading hands. From who to who we don't know. I would think that it is into professional hands, as retailers haven't really been spruced too yet. Not a lot of broker reports/news article about SXY, only the Cooper Basin.
It is of my opinion that when a stock is marketed heavily to the general populace that the highs will be reached and the retail investors will be loaded up with the exceptional story and future greatness of that stock. Usually this time is when there are easily obtainable broker reports with quite high (but surely reasonable!) targets and plenty of reputable newspaper/internet news saying how strong it is.
As such I don't think SXY is there yet, however that could because SXY doesn't have what it takes to be flung around like the $500M companies or that no big players really care much about SXY enough to do that.
In the end, we all have our stops ... right?
Big trading day. A lot of shares trading hands. From who to who...
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