Market Makers Snared Me in Riverbed Technology (RVBD)

The market makers in Riverbed Technology (RVBD) just have to be laughing amongst themselves; they did very well Thursday. With a large drop in the first 30 minutes (down to $21.60) they must of snared a bevy of stop loss orders (including mine @ $21.90) - the rest of the day RVBD was on a 45 degree angle up to finish almost unchanged. I wrote

This is the first penetration of the 20 day moving average since March.

Not so much - as you can see below

As I warned

As always the closing price is more important than the midday, and we are prone to being "shaken out" of positions by taking intraday stops

And so it goes... sometimes you lose, sometimes you win when you play it so close to the vest.

So by the skin of its nose, the Riverbed Technology chart is still in positive shape and still has not broken the 20 day moving average on a closing basis since March.

Long Riverbed Technology in fund; no personal position