WOW - what a photo-finish! Closed above 56 - outstanding! This was certainly very interesting. Yes, Stephen, I saw the big sell trade, and in fact I saw many large sell trades, but also a couple buys of 10K. The odd thing, is that the balance of selling/buying, is still overwhelmingly big block selling/small block buying. Also, if you look at the ISLD book, you'll see the sell orders line up in blocks of 1-2K thick, at almost every price level. Meanwhile, the buy orders are sparsely stretched with 1/4 to 1/2 point gaps, and mostly in the 100-200 share sizes. Another interesting thing, is that most sells were through ECNs, mostly INCA with BTRD kicking in. ISLD of course was on both sides, though the selling volume was greater on ISLD than the buying volume. FBCO after being passive most of the day, really stepped up to the plate and saved the 56 level by holding a steady bid (sometimes alone!) at 55 15/16.
Of course the market was insanely hot - my JNPR rocketed up by 17 points, QLGC by 7, QCOM by almost 4. Too bad I wasn't in RMBS and RBAK. RMBS is headed higher, and I keep meaning to get in (since March!), but somehow I keep missing it.
The OLB stocks were a mixed bunch with AMTD down, but SCH up, and EGRP up sharply compared to NITE.
Well, at least NITE didn't go down in a blazing market. It went up by almost a point - better than a kick in the teeth.
Morgan |
