GREY:SXRZF - Post by User
Post by
PUNJABIon May 18, 2012 7:23pm
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Post# 19927641
What does the tape say
What does the tape say I am travelling & am in a hotel in Halifax. Do not have full access to my trading system just a laptop. Unable to to perform a proper review of market action.
I read the tape & from the tape I see everything was fine till the last hour of trading. UUU was trading flat most of the day. At 4.17 pm about 43 minutes before the close someone using anonymous dump a block of shares which too the stock down to 2.25 then shortly after that another block was dropped on the bids from $2.28 & took the stock down to $2.10 then the stock bounced back to $3.32. ( What a trading opp, nice swing with in minutes too bad I was not there to take advantage ) This was followed by few more dumps. The last dump took the stock down to $2.07 & that was the final dump. The stock then recovered to close at $2.20. I see a four minute circut breaker trading halt too.
In the morning I took a look at the market book & saw the opening of trading. Market book was thin on both sides. not too many buyers or sellers. I hink I had mentioned that any large buyer or seller can have an impact on the share price. What happened was tha in last 43 minutes anonymous dumped about three million shares at average price of $2.19 One sellers using anonymous code. This is the thrid time this flash dumping has taken place. yesterday same seller did that.
I do not know what is behind this. I can only guess. I have to go now I will continue later.