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Navios Maritime Acquisition Corporation Message Board

  • phonodelic phonodelic Oct 17, 2012 4:06 PM Flag

    Volume 278.000, strong buying late

    "Smart money" buys at the end of trading days, it is said. Volume of 287,000 today (per yahoo) is about 100 times average. So I conclude this is a good sign. ;-|

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    • Today, there was a "phantom" transaction at the end of the day that raised the price nine cents on no significant volume. Without that trade, NNA would have closed down 19 cents rather than 10 cents. NNA seems to get assisted this way frequently. When I am heavily long I don't typically complain. But when I'm trying to find a reentry point, well...

    • I don't think it was a con. The very next day, Clarksons came out with their report saying that this quarter is the inflection point for the clean tanker market. No doubt preferred clients of Clarksons got the report early and got a position going.".................................................................................
      ................................................................................................................................................
      That's interesting, but why did not the entire tanker sector move up. Nothing similar happened with Sting or TNK

    • This is so much volume as to be not credible. Whichever parties are ginning this up are not present on a daily basis trading this amount of stock, so look to see this move come back down to earth. Sometimes we see an unsophisticated trader come in and place market orders that drive the stock in this sort of a spike. But this always occurs on light volume. This recent action looks more like someone buying and selling very untypical volume to himself. The price move causes investors to imagine NNA is finally making its move and it is time to get in before it gets away from us. Someone seems to know something we say. Buy, buy, Buy. Then of course, the manipulator feeds the shares back to the suckers at higher prices and all the air comes out of the stock. It's a con. They could not pull this off with shares of Apple. But NNA is thinly traded enough to to allow this sort of mischief. And the risk of the manipulators getting burned is fairly small, I imagine.

 
NNA
3.57+0.02(+0.56%)11:07 AMEDT