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  • kingedxxxxx kingedxxxxx Nov 30, 2012 4:08 PM Flag

    Huge trade at the close...

    painted the tape at 49 cents. Over 2.25m shares switched hands. Seller wanted out and sold at a pretty big discount. Not looking good.

    I have been out of this stock for some time now and got lucky making up some losses on that spike to .90 area where I got completely out before this latest drop.

    Just hard to see anything good coming here. Good luck to remaining longs. You need it.

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    • markpawling Dec 1, 2012 8:55 AM Flag

      I saw there was big trade at end of day. Kingedx : you stated that "Seller wanted out and sold at a pretty big discount". How or where do you see if seller booked a loss or profit. Am i missing something? what if it was someone who bought your shares at .90 and was shorting. Then they booked a huge profit. I am just asking because if there is a way for me to see that that sale was a loss or profit it would be helpful info.

      Anyone: Thanks in advance to any answers to this question.

      Sentiment: Strong Buy

      • 1 Reply to markpawling
      • To answer your question and Tiger's, think about the PPS of the trade. The buyer supposedly paid 0.49 per share which means they wanted a discount over current PPS to take on those shares. Seller was willing to let go of the shares at a discount.

        If it was a short covering, the short-seller would be looking for shares to buy and would at least have paid market, if not more, to cover that many shares. The short would not be covering at 5-10% disounct below market.

        Possible that this was some kind of end-of-month reallocation that had to reduce share count. Even so, they had to sell at a discount to move those shares.

        I am very confident that whoever sold those shares, they booked quite a loss. The buyer unlikely has booked any gain or loss as they just obtained the shares. If the buyer was a short-seller that was covering, surely they made some serious profits on the trade. However, I do not believe it was a short that was covering as the PPS would have traded higher rather than lower for them to cover that many shares.

    • Remember there was two sides of this trade...someone bought 2.25m shares too! So they might know something for the upside. Who would spend $1.125m on a loser?

      Sentiment: Hold

    • Not sure,,,OCZ had a mysterious 2 mil+ EOD too,,,computer sell off trades

      Sentiment: Buy

    • BK announcement should be here shortly.