10,000 at 4.47 is a Courtesy limit to other Institutions
question, how do you read this action- big block sitting there on AEZS on the ask at 1.92 ...10K went through at 1.92 then 50K blew through at 1.919, what's going on with this price action? thanks newbie in the sierras
Just a guess. This is accumulation on steriods. They have a short position they must protect and need long shares to dump to hold or to drive it lower. Some here summized there is substantial short position in the 4.50 range? Anyway you look at it as shares are needed by multiple players if indeed this is headed higher. Look at this as an intersection where all kinds of greed are now looking at each other wondering whom will go first.
Keep in mind that the Hedge trades through multiple books actually buying and selling into their own hands creating an illusion of a market. Their trading is for free hence the multiple 100 share lots that their machines and software move. They can adjust the time, shares and PPS to their specific targets and just turn it on. There's safety walls built in so to protect it if a bigger player upsets their pattern. They then manually return it or it does it automatically.
Fish looking at aezs. That big block on the bid looks to be a gate to unwind long buyers ahead of their block before they take it lower. A holder of that amount of capital doesn't show that they scale or creep in. Watch for that to be pulled after what they think is out there buying is done.