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Weirdly Predictable PCG Trades Like a Biotech Startup

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

Take a look at this madness:

Liquidity moves markets!

Follow the money. Find the profits! 

Pacific Gas & Electric – – a utility company, for God’s sake – -has been trading like a biotech company whose FDA approval announcement keeps changing for Yes to No every day.

On the one hand, the stock is up 85% since Monday. On the other, even after this bounce, the stock is also down 92% from its peak twenty-five months ago.

What’s interesting about its recent behavior is that, in a curious way, it’s quite predictable. It makes sudden, volume-drenched moves lower and then bounces so that it almost – – but not quite – – closes its price gap.

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