LOL Herchel, I typed out my last post before I saw yours - as you can see, I agree with most of your points.
As far as shorting, it is just a hypothesis - based paritally on my own trading behavior (on a day as down as today, its a no-brainer to short). Further, I see a lot of the selling through ISLD in a pattern of behavior I've seen before when shorting is taking place (the sells appear on the ask side, carefully designed to work with the upbid rule - while selling slows with a very tiny spread which doesn't allow for that move, etc.). Also, if these were just "retail" sellers, not shorters, those ususally get executed in the morning. Rarely do you have an ordinary investor decide to start selling his shares in the middle of the day - if he decides to sell, he puts his sell order in the night before, or at the open. But yes, I can't be 100% sure.
And again, while the market and sector are negative - NITE is definitely underperforming. It is down on no news more than just about any stock in the sector - and BTW, SCH is still up.
Morgan |
