Some observations about GBLX trades after 14:50 on Friday 12/17:
As I mention before, GBLX started to sell off at 14:50 on Friday. Some of them were individuals who did not want to hold GBLX over the week-end but later when I analyzed all trades, I noticed about 20 blocks of GBLX traded after close between 16:01 to 17:04 raging from 11,000 to 182000 shares traded at 52.75.( over one million shares). This happens most of the time when MM promised their large institutional clients a fixed price for stock. for MM not to lose money, they had to bring the stock down to accommodate their institutional customers. This has been going on for century but recently, thanks to internet, small folks have ways to find out. That is why institutions do not like ECN's because when they buy in this kind of volumes, they bring the price UP and when they sell the bring the price down significantly. They like this cozy relationship.In latest quarter, institutions bought 166,300,000 and only sold 5,900,000 shares.Net purchase , 160,300,000 shares.
Good luck all |
