There weren't many shares bought on the bid.
Most of the trading today occurred on the ask, probably over 70% of the volume traded.
Our guess in the past, is that there is also a large short active at REDI, based on the large volumes sold in August. This short was covering some today. This is exactly what INvestor was suggesting... selling from CC to shorts covering. Incidentally, REDI is the ECN for Spear Leeds, so SLKC is included in the numbers I mention.
However REDI sold over 400k, and certainly bought less than 100k today. And I suspect less than 50k. NITE was likely the largest buyer today, along with big buyers using SHWD, INCA, MASH, PRUS, HRZG, and WIEN, all of which seemed to be buying as much or more than REDI. NITE, SHWD, and INCA all seem to have active large shorts. INCA was also used by CC to sell shares in September.
In conclusion, we had one large seller throwing out 70% of the shares to over eight large buyers. Incidentally, I have adjusted my numbers for double counting, so these are likely shares changing hands.
Next question?
Paul |
