Possibly another reason...or two...To all:
I decided to explore another possibility for the HIGH volumes and SHARP Price move up today. I looked around to see if I could find a reputable and timely report on the Short Positions for T.AMC.
There is one at this LINK
https://www.financialpost.com/markets/market-data/market-short_pos.html
Right in the Middle of the page that comes up is a Heading called "Largest Short Position Increases 2010-08-13 - 2010-08-31"
2nd from the top of this list of 20 entities is
T.AMC.
On August 13 2010, the
Short Position for
T.AMCwas
2.659MM shares ( A little Lower than I would have thought).
THEN, in just 2 weeks
by August 31 2010, that number had
MORE than TRIPLED to
9.175 MM shares (Quite a bit HIGHER than I would have thought given the more positive outlook of late).
Now we can't have that sort of thing going on (Big Short Position forming) can we.
So, methinks, that the "big hurt" was on "to send a message' to those "shorts". The range today was Lo/Hi
.155/
.225 with a Close of
.18 and a Volume of 19.99MM shares.
Alternatively, maybe this little expedition was on to shake those last loose leaves from the tree as there was a march right up up "ask" scale right out of the gate this past Friday morning till about 1:00PM before easing off.
Or could this be similar to this case???
+++++++++++
“…we generally get a serious shake out before the market reverses...What I mean by that is we should see the market gap substantially higher or spike up intraday as key resistance is broken. This forces all the shorts to cover their positions just before the market rolls over and sells back down…”
+++++++++++
In any event, what happens on Monday & Tuesday will probably give us some more clues as to what "they" (you the 'Market' as opposed to the 'market' ) were really up to.
All the Be$t,
LB