RE:Massive 20 mill order near close on nyseThere was not really great big volume on ELD today.
EGO in NY had 2 unusual transactions at 3:59, 1 million and 20 shares.
Its fine to imagine one new buyer but you see, there are no 20 million share
sellers at 3:59 for a 20 million share buyer.
The lots on ELD at whatever depth are usually full of thousands of shares buyers and sellers
Does anyone know if this was crossed between the same broker or different ones?
Any theories? A tax loss transaction perhaps between parties arranging this beforehand? But why
the 3:59 risk, what if the order was delayed or messed up? Any ideas anyone?