For the past few days there has been over 500K of last minute volume in huge block trades....how is this accomplished without driving up the price their is certainly not that much volume available at the price they are paying...second is it shorts covering or some long taking a position and why now???
Looks like pre-arranged purchases/covering by institutions (accumulation). IMOS did the same thing, though more overtly, a week ago and then Friday's great news and breakout. I believe this is setting up for strong Dec SSS numbers and then the breakout to the 40s. Unlike IMOS, JOSB has some serious nitro (short position) to give it plenty of thrust too. I own both and am looking for some phenomenal returns by Mar 07....
I'm confused too. The last time I looked on Friday, there were about 170,000 shares traded! Which is very low volume and below avg. for this stock. I'm confused how that many shares can trade the last few minutes and not affect the price also.
We'll see soon when the number of shares short is announced. Should be a definite downward spiral in that number.