Knight is selling shares for someone taking money off the table. There is nothing suspicious or cynical going on. Hold on and make money as things progress. If you don’t believe this sell and move on.
Disclosures and Material Relationships:
Knight Capital Holdings LLC (“KCH”) is the parent company of KECS and a majority owner
of KECS’s affiliated broker-dealer, Knight Capital Americas, L.P. (“KCA”). KCA operates
an alternative trading system (“ATS”), Knight Match, and is a market maker in certain
OTC securities and a registered market maker in certain securities listed on the following
exchanges/venues: New York Stock Exchange (“NYSE”), NYSE Amex (“Amex”), NYSE Arca
(“Arca”), NASDAQ OMX (“NASDAQ”), NASDAQ OMX PHLX (“PHLX”), BATS Exchange
(“BATS”), Chicago Board Options Exchange (“CBOE”) and International Securities
Exchange (“ISE”). KCH has a direct ownership interest in Direct Edge Holdings LLC, the
parent company of EDGX Exchange, Inc. (“EDGX”) and EDGA Exchange, Inc. (“EDGA”).
KECS routes orders to market centers, including national securities exchanges,
alternative trading systems, electronic communications networks, and broker-dealers
that may offer credits for orders that provide liquidity to their books and assess fees for
orders that take liquidity from their books. In some cases, the credits offered by a
market center may exceed the charges assessed, such that a market center may make a
payment to KECS in relation to orders directed to such market center.
“Other Orders” include market opening and closing orders, orders submitted with stop
prices, all-or-none orders and Not Held orders. Algorithmic and Smart Order Routing
orders are considered Not Held.
Your assertion defies common sense. There aren't any institutions holding large positions in TTNP that would take NITE weeks of selling to dispose of. There is also a platform for institutions to trade large blocks, they wouldn't go to NITE. You are trying to deny the obvious. You are trying to tell us that what we have seen every day for the past few weeks didn't really happen. According to your reasoning, should we also surmise that Madoff didn't run a ponzi scheme, that he's really a good guy? Hey, I don't believe you. Why should I move on?