Michael,
Your email "pal" is quite creative in his writings. He is obviously short the stock.
What he fails to understand or mention is that on these block trades, yes there is a seller, but just as significant, there is a buyer matched on the other side of the trade. A trade of apx 27,000 was made shortly after 5:00, he claims. Well, its like looking at a glass of water--half full or half empty. Someone dumped 27,000 shares, but there was also someone on the other side who BOUGHT 27,000 shares. So, net-net, its meaningless. If one of the mkt makers took the 27,000 shares, the mkt maker obviously thought he could sell them off at a profit--these guys aren't out there to lose money, you know.
Good luck and keep posting the emails from KooKooBear. It is often fun to see what lengths the shorts will resort to when they get squeezed.
Gary |
