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Pep Boys - Manny, Moe & Jack Message Board

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  • shorthighcoverlower shorthighcoverlower Apr 3, 2009 4:38 PM Flag

    nice closing momentum

    what do you mean the last 50K shares were all on the buy side? wasn't there also a seller present to accommodate the transactions?

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    • Needless to say, for every seller there is a buyer and vice versa. At 460,000 volume there was a 10,000 share trade that took it from $5.14 to $5.16. Almost all the other trades were 7,000+ with each carrying it up another penny or two. Of course, there were a handful of trades of 100+ shares as well. The point is classic accumulation pattern. Someone is buying everything they can get there hands on in a narrow range each day and then they letup for a short time to let it drift back to their buying range. Then they take everything out again. I am speculating that the rush to buy starting on 4-01-09 was after window dressing for funds/institutions that ended 3-31-09. The new quarter has started. They are buying now and if PBY makes a great swing upward this quarter they look like an investment genious when they report again for 6-30-09 and it's in their portfolio. If PBY disappoints again, they dump, take their loss and they don't even have to report their trades. Their investors are none the wiser. However, they don' want to be left uot and look like idiots if PBY does surpise on the upside. These guys don't buy the idiot analysts calling for a downgrade of this industry. They know they're smoking crack. Even if new car sales pick up, unemployment is going to 10% by end of year and will not see 5-6% again till 2013. The delta of 4% +/- in unemployment is more than enough to drive aftermarket parts and repairs for at least 2-3 years. This is the sunrise of this industry not the sunset. DaninFW

    • Ask price not bid.

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