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Gold/Mining/Energy : Abnormal Volume and Block Trades
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To: Crocodile who wrote (1925)6/18/1997 9:49:00 PM
From: Essam Hamza   of 2340
 
Hi Bev,

Shorts play with the market a few ways I've found.
1st to create an uptick they will place huge bids below the current bid. Gives the stock a false appearance of increasing support and stock runs a short distance. This is met with crazy levels of offers that are show only. I find if tested they are removed and repositioned.

This causes the panic selling by the small investers and the shorters follow them down with the advancing huge offers. I watched this happen today with MSR.

Whether the buys are recorded depends on whether they are covered or not I believe.
I'm still getting all the details on shorting straight myself so I may be wrong.

The small 50 and 100 shares trades I was informed once were errors but I haven't confirmed it yet. I personally believe they are way too consistent and predictable to be errors. The "fake" last price is usually recorded below the current bid often in a stock that is rising in an attempt to shake a few shares out cheap.
The reverse is true I find where a fake higher priced trade will occur in a stock that has heavy selling pressure.

Maybe I'm just sitting too close to the computer screen and I'm going crazy ;)

Thanks for all the work you are putting in those dead cats.

Later,

Essam.
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