I just have to make a few observations. GTN is the one stock that goes up 30-40 cents when someone wants to buy a large block and drops the same when they want to sell a large block. That's what happened Friday. I expected a breakout. The very first trade was a large block of 72,648 shares for $7.46 to $7.47 and the previous close on Thursday was only $7.40.......up 7 cents on first trade. Then with less than 10,000 shares traded we went down to $7.29 and then back over $7.40 for about another 40,000 to 50,000 shares. But, someone kept dumping. All day long there was 5,000 shares, 10,000 shares and 15,000 share dumps every time stock would inch up a few cents. The real interesting thing was at the very close, the last trade was 130,000 shares at $7.06 that didn't cross the exchange which says the market maker took it off for inventory. This usually indicates that market maker knew there was a big seller and drove the price way down to protect himself. There was another 50,000+ shares traded in aftermarket at about same price. The odds are good that big seller finally got taken out. We should start moving up again Monday especially with Barron's article.
However, even with GTN dropping Friday there were at least 3 other positive events for the sector. LIN almost made new 52 week high and missed by 32 cents after the SEC filing at 11:43 ET that Morgan Stanley had acquired 5% of all Class A shares.............and MEG did make a new 52 week high on Friday with market down 185 points. DaninFW