The buyers always confound me on days like today. Netflix (NFLX) gets a push and the buyers take it up from the getgo. Dominos (DPZ) is pounded hard and the buyers swarm.
The same thing goes for stocks like PepsiCo (PEP) and Kimberly Clark (KMB) . There was no reason for the buyers to start taking things up. Why the persistent bid in Gilead (GILD) ? What's the deal with the buyers of the department stores knowing that they could be hurt by Chinese suppliers?
Honestly it is beyond ridiculous when these buyers simply will not quit. But all it really is the mirror image of how brokers handle sell orders in declines.
The brokers sell and sell and then nail the stock to the bottom and present an average price that is better than the last. Same with the longs. That's why these stocks that are going higher tend to stay higher. The brokers trying to make themselves look good, and not much else.
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Names like J.M. Smucker and Kraft-Heinz may seem dull, but they provided needed stability in this kind of market. Let me show you why it's time to get back to the basics.
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