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Tuesday Morning Corporation Message Board

  • microcaptrader microcaptrader Mar 5, 2012 4:05 PM Flag

    So somebody dumps 75k shares during the last minute...

    of trading. Same pattern as almost everyday last week. Not only is somebody exiting a large position (or building a large short position!), but they appear to be attempting to wreak as much technical damage as possible. On the plus side, the share price only dropped 3 cents despite the big sell side volume surge.

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    • The "attacking the bid" at closing occurred everyday for two weeks then stopped with the close last wednesday. May have been FMR. May have been somebody playing technical tricks. Could have been most anything. I'm hopeful that the recent uptrend will continue through earnings.

    • r u sure it wasnt MMs closeing out

      • 1 Reply to christrades17
      • Yeah. While I havent watched trading in TUES at all, its not uncommon for a trader to "work" someones large order during the day and then near the end of the day or shortly thereafter, show a print for the the total.

        For example, suppose a market maker sells 10,000 shares all during the day. (or any number) at various prices.

        Then, just tallies them up & shows a print to buy them from the party he was selling for. Less an agreed upon per share commission.

        Just another reason volume can often be double or triple counted.

        The above can happen even when a firm has their own trader work their order.

6.80+0.10(+1.49%)3:23 PMEDT