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Providian Financial Corp (PVN) Message Board

  • chickenmanfanfan chickenmanfanfan Nov 18, 2001 7:49 PM Flag

    Institutional Activity This Week

    30 day wash almost over. Monday, we should see strong institutional buying. By the end of the week, we will see the largest jump on PVN that is not news-driven. This will be a direct result of the institutions getting back in from the dip a month ago. This is the BIG WEEK for the 30 day buy back.

    Only after this week will we begin to see true support for a base, both institutional and individual interests combined. Remember, what we saw over the last month did not include much of the institutional activity for PVN.

    Buy if you can afford it!

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    • What makes you think institutions want to buy back what they've sold? That would mean they would have to explan to their clients the they made a mistake in their earlier selling, right? Don't you think they've used those money to buy something to buy something else?

      Can you substantiate your statement.

      • 2 Replies to joe30_ch
      • Joe,
        The assumtion here is that the institutions can buy back DOUBLE their holdings of Oct. 19th (after taking the Wash Rule tax loss) for the same money. They like to think that they know what they're doing, and they would like to make up for their losses. Think of it this way, If they bought at $50 then it tanked to $6 and they sold. Now it's at $3 so if they double up it only has to go to $25 to get ALL the $$$ back. This only is my very simplistic and optimistic view of the situation. The Big players will show thier cards tomorrow. They will probably be cautious so as to avoid excess volume running the price up before they can get their orders filled.

 

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