RE: Anonymous is dumping!FWIW
My guess is that it's Northern dumping under Anonymous.
Here's my theory.
I read in the Globe & Mail a few days ago that Northern has some ABCP exposure and that the debt is going to be converted to long term 9 year stuff. The problem is that the small guys could kill the deal because they want the cash instead, they don't want to wait 9 years. They are also very angry. Northern doesn't have enough cash to cover these people so they have to dump share to round up the cash. This is just my theory not actual facts. So that means Northern needs cash to try and make them happy. If they can't keep the small investors happy then they could kill the deal or else they will not deal with northern anymore. The problem is that Northern doesn't have the cash so they are probably hiting all kinds of stocks that they own. This could also apply to another large institutional holder who got caught in the non-bank ABCP not just Northern.
My understanding is that Northern doesn't have that much left so in theory if it's Northern then a few more heavy volume days could take them out of the picture.
My other theory is that once the 33-billion market for non-bank ABCP deal is done and hopefully it gets approval then this heavy dumping should stop but then again that is just my theory.
MM