Sorry all, for keeping so heavily on this issue, but it really is the story of late. In very clever fashion, TD shook 46,000 shares out of the market today.
The sequence of their plan was as follows,
1) help take the price up on light volume to the mid 8's
2) be on the inside bid at 4.45 for 5,000 shares.
3) as trading slows, whack your own 5,000 shares, plus a few, to create what appears to be a reversal and downward momentum.
4) place large bids at increments going down to 8.10 and let momentum do the rest. Very simply, those bids worked like dominos, in the sense that each time one was hit, it created an illusion that people were getting out. This made the next lower, big bid seem like an opportunity to get rid of a larger position (something that has likely seemed tough to do in the last week with the low volume).
Please see next post for today's house positions and trade history.
Joe |
