Big Buying but MM game playing right now. I know many of you are holding "long" but wanted you to be aware of this.
From 10:25 EST there with the bid at .81 x.89 they were lots of subsequent "buys":
50,000
5,000
20,000
2,500
30,000
500
20,000
the only "sells" were 2,500 and 5,000
but they DROPPED (yes, dropped) the B/A to .78 x .86, then to .75 x .83 which induced (4) small sells of 5,000, 2,500, 1,500, and 5,000; then another small sell of 2,500 and a buy of 2,500 at .813
Now we are at .73 x .813
If buying continues the MM's should play it fairly again. Just wanted you all to know that the MM's are trying to shake some things up. Buying is still dramatically outpacing selling. To be expected. Seen it many times before.
PS- I am encouraged by the number of big block "Buys"...usually a good sign.
Good luck,
DAVE |
