shorting being dealt with - moving higher
whilst shorts and longs who view their buys as overhead get out, the mm's are dealing with block shorting brilliantly to sustain a long tail up. they take the short only when they have accumulated here to buy it by strait line sell and buys for their account, and then move higher. an old trick once done on a sheet of paper now given to algorithms. crossing 121 yesterday was brilliant. buy the short, but don't go higher, take the short sale down and trade it to yourself lower by shorting it into a long position, and then buying to the mm account and then go higher. shares will be called for the mm accounts this week as well. on other fronts my eu shop, a division of a large usa house just raised celgene from a 4.1 to 8.5 buy on a scale of 10. first time i have seen this extreme action. in reading the messages this week listen to the pm talk for a dividend versus the analysts. both are calling for a small one, but analysts talk and project, (pm's) portfolio managers buy and sell. cheers