RE: RE: RE: RE: ITG again Really?? Your assumptions of the crosses seem a lot more absurd then my comments. Here is why:
1. There was no need for ITG to generate "buying interest" as there had already been significant volume of 2 millions shares traded early in the morning.
this is possible, I was only tossing ideas around. sometimes stocks have a big pop following a cross
2. I can guarantee you that anyone playing around with over 4 million shares did not suddenly "change their mind" in a matter of few hours based on what may or may not happen in the Greece elections. Everyone would have known the elections were going to be happening on the weekend. This is not news.
I agree, the Greek situation isn't anything new. Why leave such a large trade to the very last second though?
3. I can guarantee you 100% that the market will NOT open "bidless" LOL...as I will still have my bid in place at 32.5 cents which was never filled. That comment also makes me believe that you are a bitter CAN investor who sold out for a loss.
The market sure seems 100% certain that either all the EU issues will be solved in 24-48 hours or Bernanke and his cronies will fire a massive silver bullet to put an end to the crisis. I'm not so sure either of these outcomes is a given at this point. I certainly wouldn't bet my life on it. The buying today in commodities, mining co's etc was lacklustre to say the least given that a massive print job is supposed to be imminent. If I am not mistaken, we have seen this movie before back in 2008. As much as the powers that be will try to ring fence everything, they will fail when all hell breaks loose. Trying to predict which animals escape from their pens so to speak (and what they do after the fact) is impossible to predict. I don't think markets are ready if a so called black swan gets loose.
4. The 2nd cross WAS clean....what was not clean about it. It was timed right at 4pm with 2 million shares going directly to Anonymous from ITG and the rest to 2 or 3 more houses. This was pre-planned. It was NOT dumped on the open market because if it was then I would have gotten filled at 32.5 cents. There were not 4.5 million shares on the bid at 32.5 on the close were there??
The fact that the second trade occurred right at the bell and in the fashion you suggested leaves a bad taste in my mouth. It is virtually impossible that no outside retail orders whatsoever were filled and that 100% of this trade was by appointment. That's all I have to say on this. House 14 could have simply crossed a block of shares like they did earlier in the day and given the various buyers their fills themselves.
Cheers.
Right back at ya.