David - We have discussed in the past how the specialist/MM jerk around the volume on the bid-ask, and today, it is giving me whiplash!
One minute, you have 300+K bid at 32 1/8, then the next minute, it has been pulled down to 31 15/16, then a few minutes later, 200K disappears, as no trades occurred to consume that volume.
Meanwhile, with all of the bid volume in the past 30 minutes, MU is down from 32 1/4 to 31 3/4.
The pattern today, does resemble Apr 2nd, following the runup on Apr 1st. Hope the pattern continues, as it went down 4 points in 4 days.
Patrick |
