GREY:TBTEF - Post by User
Post by
PUNJABIon Jun 09, 2014 2:15pm
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Post# 22642850
Low volume the stock was drifting
Low volume the stock was driftingThe volume on the stock had dropped in the last few days & the stock was drifting higher due to lack of sellers. In the absence of HFT & sellers evaporated a very few buyer were buying at the offer & the stock had moved higher from about $1.81 to $1.87 in a few days. While looking at the volume you have to take out the crosses from total volume. Almost every day the volume is inflated by crosses.
Today the volume was low too, stock started trading & opened one cent higher. Then the stock began trading a bit lower & was drifting till Eric bashed the management / stock & a few sellers took the stock down to $1.79 in matter of minutes.
Now the volume has picked up.
He does not own the stock & some of his comments were
“They cut their guidance by 5%. Declines in an old well were higher than expected. It has become un-investable until they show they know what is going on. A yield goes over 10% for a reason.”
In summer the volumes can drop & the stock can drift. Small buying or selling can easily move stocks.