Yesterday, other than early morning from 9:30m-11:30am, and late small spike after 3:30pm, BX traded within a very small trading range. Bid and Offer were 20.10-20.12, nearly 2 million shares traded in that range.
The above procedure is called Buying Power and Trading Pressure. This can go on from a few hours to a few days. This is computer controlled, generally done by big institutions, to determine if it time to bid up or sell some to determine the demand.
Why buy million share and end up paying more and get it cheaper soon.
There was some special activity in the options; stock will eventually move one way or the other with more than 5% in a few weeks, or May 17, 2013 expiration.
Please don’t look at the pre market as indication, unless volume is above 2% of the daily or is at least 50,000 shares. The price of 100 lots should be ignored, and is suppose to fool the amateurs.
I am long BX and I feel it is being accumulated after the last Friday, April 19, 2013 Sell of to kill the option buyers.
Ummm take a look price now. This stock is headed up. Options are not controlling, it is fundamentals........ By the way I am long options for next year! I expect to see BX nearing $30 by the end of 2013!