Wow, Rolf, ML is researching Turbo? If ML initiates coverage with a buy soon we really will go to the moon. Any idea how far along in their research (and buying, presumably) ML is? They won't initiate coverage until they and their top clients have established the positions they want. Has anyone with Level II noticed significant buys coming through/from ML? It's a great, comforting rumor and if it pans out it will be GREAT!
Got my fingers crossed, and toes too.
John
PS Due to the recent runup there must be a huge, new short interest. Anyone know when we can get new short figures?
PSS I've noticed strange patterns in Turbo trading that I don't usually see. I've got real-time streaming quotes, so if I sit in front of the screen I can watch every trade. I have noticed that when decent sized, but relatively small blocks of 10K and larger start trading a 1/16th above the ask the bid will almost immediately drop and then the ask drops and the price goes down. On the other hand, several times I have suddenly seen a block of 15 or 20K go by just under the bid and then the price starts to move up. This pattern has repeated itself several times in the last two weeks, i.e., sizable trades above the ask -- price goes down, or, sizable trades below the bid -- the price goes up. I realize this must have something to do with institutional trading and shorting and covering, but I've watched a lot trading and not seen such a consistent pattern before. Any comments or explanations? |
