>>>>Techie, the average daily volume of shares traded is around 7 MM shares (remember on the Naz there are at least two trades for a transaction from a seller to a buyer). That represents around $600 Million per day<<<
Hmmm, I thought it was the total opposite. Meaning on Naz the volume is double counted making the actual more like 3.5 million which would make it $300 and not $600. But this minor error is irrelevant. Yes, the stock is high volume. But more importantly, I have never claimed or implied the stock is manipulated by MMs. Therefore, I fail to see your point.
>>>>We are talking serious institutional money here. If this were retail (at approximately 100 shares per transaction) we would be looking at around 140,000 people trading Dell on a daily basis. Clearly, these trades are mainly institutional.<<<<
True, the bulk of it is institutional money, hence the selling pressure. But do not underestimate the amount of retail trading on this stock. Lots of 100-200 shares are traded every day. Some by grandmas and some by momentum players who hang out on SI and can't afford any more. I don't have the data right now, but tomorrow, if you like, I can post the number of block trades vs non-block trades. The barbeque you saw was hardly institutional money. As a friend put it after the show: "who's left to buy"?
>>>As I recall, institutional ownership of Dell is over 80%. Considering the number of shares outstanding, it would be a major feat for the institutions to engineer an artificially high price for the stock.<<<
I didn't say they were "engineering an artificially high price for the stock", did I? You are one of the more rational ones on the thread but you still like to put words into people's mouth and misconstrue intent. What I said was "they were trying to get the small guys to buy as the big guys were dumping" (or something like that, I'm too lazy to go & copy the exact words but I have excellent memory). The conference call isn't from Goldman or Morgan, IT'S from SCHWAB, a retail broker! If you think I'm wrong, tell me what the purpose of this call is: to get Fidelity to buy?
You have to admit that the PR machine has been in high gear during the last 2 weeks. Marketing 101 says the intent has been to overshadow the GTW & CPQ announcements. Now I'm not a genious but even I can figure out that much.
p.s. Presuming the level of knowledge of someone you just bumped into is a BIIIIIG mistake.
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