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Saw some interesting things near, at and after the close today;around 3:30, OO was getting some selling at 10 7/8 by 10 15/16 with a very low bid size and high ask size, but it didn't drop anymore. The bid size should have been droping, but wasn't. WHY? Well what happened next explained it! At about 3:30 eastern time, there was a block of 78,700 shares purchased at $11 and another 11,700 at $11. The bid/ask then moved to 11 by 11 1/16 (size 200 by 100), it appeared as if it would start to run, however, two 10,000 share sells came in taking out the 11 bid. More selling at 10 15/16 came in up to the close. The closing print showed as 3000 shares bought at 11 with the size 8 by 5 (10 7/8 by 11)-volume 779,500. Well, it turned out that things were changed by the specialist(s). The closing trade now shows as 100 shares purchased at 11 1/8 with a bid/ask of 11 1/8 by 11 1/2 (size 4 by 1)-volume 779,600, this occured at 4:30 EST. Don't you just love the way they can move the numbers around! Tomorrow should be interesting! |
