Costco, slow but sure? Message Board

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Non-Tech : Costco, slow but sure?

COST 914.24

-0.1%

Nov 11 3:59 PM EST

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To: WalleyB who wrote (672)	8/19/1998 12:18:00 AM
From: Paul K	Read Replies (1) of 1147

Being up over 4pts with slightly more than an average days volume on a no news day is an indication that the stock is being 'pulled up'. There were maybe a dozen blocks at 10k and higher through-out the day, so nothing special. COST is a popular trading stock for groups like Pristine Daytraders who jump on it for multi-day runs. Since there wasn't a sell off at the close I would expect they anticipate it going higher. Another factor is that Friday is options expiration... and maybe a market maker would like to see the stock at a particular price level by then. Take a look at the millions of shares that were dumped by holders since the slide from 65, market makers have been buying it off of the shareholders anticipating they will be able to sell it back to them at a higher level down the road. Taking the stock up fast in only a few days is in their best interest! If I remember correctly I saw a few large blocks go through just as the slide from 65 began which was probably a MM shorting the stock knowing it was getting weak and they could help it down (covering their shorts by buying back the shares that everyone else was dumping) Such is the market.

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