08-14-2013, 01:07 AM
'ebster123' pid='27044' datel Wrote:My guess is the 400,000 shares sold rapid were to catch those who had stop loss orders in. Now 1.3 million have traded and well off the lows on the way back up. I think there were some shorts covering.
I'm not a short, but I did use the opportunity to add some Jan 2015 LEAPS on the dip. Whiile a different industry, CELG periodically would get taken down. Instead of lamenting the short-term drop, it never took long for LEAPS I picked up to show green. So, I own more IOC now than yesterday.