RE: RE: Interesting move today"Not much traded at 4.74.....BUT, a ton at 4.75 & 4.76"
That was my point. There really wasn't a huge amount traded, IMO. While the volume was huge, it was simply a move to depress the price to see if they could get another nickel out of it. The ~300K bid @ 4.75 had been there all week, and unless I miss my guess - the bid was from the same funds that are shorting (or have been shorting the stock). In taking it out - they simply crossed between brokerages/accounts - I'm pretty certain - so while 500K of voume may have moved - I believe it was the same buyer and seller for most of it.
What was interesting, was not that move (they've done it over and over for the past month), it was the sudden 912K bid and the immediate effect it had on Shorty.
If today close plays out like the last few, there will be accumulation all afternoon at higher prices and then right before the close, they'll move it back down towards 4.8.