painting the tape??? First Energy was all over this stock today, buying in a lot of block trades. i was watching it for
most of the day and saw a 25,500 share buy this morning, plus a lot of 3,000 and 3,500
share blocks go by. and then in the last three minutes First Energy bought a 175,000 share block at 10.00.
it was also one of the largest blocks i have ever seen go across the tape for this company.
but then right after that someone sold 5700 shares on the close to take the price down to 9.95.
what i wonder about is why did they wait to the very last second to sell when they had all day
to do it? c'mon with 6.5 hours to put in the trade and they put it in at the last second so that it
could not be followed by a buy order that would have taken it back up to the 10.00 level? who do
they think they are kidding? it is an obvious 'short sellers' play to break the 10.00 level on the close and scare
the longs into selling. and they are hoping that noone will notice the previous First Energy buy order
for a whopping 175,000 shares. you can see it for yourself if you go to www.stockwatch.com where they
always show the last 10 trades. it was a pathetic move on the shorts side because it was so obvious as to what
was happening.
another thing to watch out for is in the Middle East over the next six months. Iran is supposed to finally get the big
firecracker in the next four months and perhaps that is why President Obamais heading out to Israel on
March 20th. are they going to discuss war plans or are they just going to have tea together? the Straights
are about to get closed with all of the implications that that means with 300.00 a barrel of oil being one of them.
and i think we have been known to sell a few barrels of oil now and then.
i sure don't want to see anyone get hurt over there because of a war but i don't always get what i want.
crowbird