Aug. 14 at 8:37 PM
$RIG Somehow it still astonishes me when MM are able to hit their target share price. They tried pre-open to get
$5.75 and somehow managed to get that at the close, despite earnings upgrade, debt reduction, positive earnings, increase in day rates that just kicked in, and retail enthusiasm with continued high oil. Just amazing.
MM bought 3,175,301 @ 11:50, barcoded from 11:50 until 3:38, began tanking as they got closer to 4PM and only had to buy back 1,393,602 at the close @
$5.76. Pretty easy day convincing retail not to buy past 11:50, even with that huge candle for 3,175,301.