If you’re wondering what that spike just after the open was about:
09:48 Hearing large opening spike in Nasdaq stocks due to “too aggressive” buy program at Tier 1 firm (via Briefing.com)
Here’s what the spike looked like:
That caused some nutty moves in some individual stocks. But now the market has taken out that early high as money pours in to the market. Perhaps others are taking advantage of the knowledge that there’s a huge buyer in the market today, or that buyer has just ‘toned down’ their buy program… or both.
