I hear you but the trading pattern Friday doesn't support the conduct of the market.
If it was simply a matter of shorting at 9:00am and closing out at 2:00pm I'd still be holding a position.
In reality the shorting started at the open ; was relentless, and never really slowed. Testimony to this was in the finish price........NCM finished on its low of $33.03. Clearly if there was a market only for shorts and they chose not to close out on a Friday then the perception clearly was that NCM is going lower. Again, considering USD1000 for bullion was in the crosshairs you've got to wonder what on Earth could make the shorts so confident that they would go into a weekend holding an open position.
Which makes me all the more curious where NCM will open this morning and how it will trade.
NCM Price at posting:
$33.03 Sentiment: None Disclosure: Not Held
