To all tape readers:
Again, a wonderful day of steady upward pressure on that
share price. Not quite the volume we needed to break the
$4 barrier, but in good time......
Volume of 241,800 with only 28% of those being sells
to the MM. The other 72% were to the mids and asks (in fact,
50% of today's trades were buying from the MM at the ask!
They're running out of inventory and, as Raleigh noted earlier,
are shorting the shares to make market. Looking forward to
their covering!)
The opening today reflected the buying pressure indentified
in yesterday's closing half hour. 90,000 shares traded in the
first half hour with a mere 13% of these trades being sells to
the MM. The rest were buys!! It slowed down after this early
surge but still contained enough upward pressure to bounce
8 midday buys off 3.9375 (and an additional 26 buys off
3.875!)
Early afternoon was quiet, resulting in a few sells as low as
3.625 and the closing half hour didn't show near the strength
witnessed in yesterday's final thirty minutes.
But....the final 7 minutes brought in 7 trades, all buys,
totalling 15,400 shares (4,100 bought at 3.72, 11,000 bought
at 3.75, and the day's final trade of 300 shares at 3.78).
In summary, total shares traded today were 241,800 in 155 trades.
There were only 27 of these trades under 3.75!!
It appears the bar was raised a couple of notches today.
Darrel Orpen |
