Something ChangedThere appeared to be a major shift in institutional trading activity Thursday and Friday.
First the VWAP dropped by almost 12 cents on over 11 million share volume. But more importantly it was the offers that kept getting pulled throughout both days in an attempt to clear for more buyers to enter. Each time that happened they were punished. I lightened my position for the first time since February. It feels like either some mediocre news is coming or worse, maybe an issue.
Possibly on the brighter side, one small item. Yesterday Paradigm Capital bought 200,00 shares at .585 cents and ES has used them heavily in the past. In February he was buying through Mackie Research (1.6 million shs) and then in March he switched to Paradigm and bought 4.6 million shares that month. If it was him yesterday we will know in a few days from the insider filings reports. I doubt he would be buying more in size but he might have just wanted to send a signal to the market. Even if it isn't him it is still positive. Slightly. GLTA.