GREY:JNRRF - Post by User
Comment by
st0ckpickeron Feb 01, 2005 4:34pm
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Post# 8522144
RE: Last minute jump
RE: Last minute jumpI have an alternate take that is purely subjective on my part. Late in the day the bid weakened a bit and a couple thousand shares were dropped on it to take the price from $1.20 to $1.16. I think someone was fishing when this happened and ran into a big block at $1.16 and quit for the day. I say this because the ask did not drop down to $1.17 or $1.18 as is normal in this situation. This is probably because no one is too keen to let go of their shares at that level. Soon after the mini-takedown the bid strengthened and went up a cent. The last trade simply hit the ask at the level it was at pre-takedown and in effect reset the trade. JMO.