I'm sorry, Larry, I did not use the phrase 'massive volume.' Bruce was the one who raised the issue of shorting. I simply see it as CC persistently liquidating a portion of their stock, every day. And you make my case, regarding the lessened likelihood of the price being driven below the fixed conversion price, when you remind us that there's a limit on how many shares CC can sell each day.
Beyond that, I feel both of you have missed my major point: watching the trades go by (on quote.com's 'live quotes' you can see every trade, and know whether it was at the bid, ask, or in between, since bid and ask changes are also posted), I've simply noticed that over the past week or two, there were numerous occasions that a large quantity of shares were sold at the same price, without offsetting buyers, without the MMs even budging the price. This says a few things, as I noted: it was likely arranged, and it sets a floor to what the asking price will be for future buyers. Simply an observation, and hypothesis. |
