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Office Depot, Inc. Message Board

  • bigger_longer_screen_name bigger_longer_screen_name Sep 24, 2013 1:19 PM Flag

    $4.70 and $4.71 look real

    Those aren't fake blocks of shares. If it cracks that, its off to the races again.

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    • I am glad your paranoia has subsided. There's no one out there with bid less than $4.67 or ask over $4.68.

      Think this is going to $4.80 if the general market/macroeconomic holds up and will hit 52 week high of $5.00 with FTC approval of deal or Q3 release whichever comes first.

      The downside looks to be $4.50

      Sentiment: Hold

      • 1 Reply to snarknado
      • bigger_longer_screen_name bigger_longer_screen_name Sep 24, 2013 5:02 PM Flag

        I don't understand how pointing out an obvious algo trader is paranoia. I was watching today when 108K shares popped up on the ask and then went away as rapidly as they came up with no corresponding sales. The fight was in the 4.48-4.54 range AFTER it had already crossed resistance once. 94-108K shares on and off consistently for several minutes. The shares were not due to resistance....they were fake shares posted to slow the momentum down. If you keep your eye on level II, you can see when they make the moves. The big blocks at 4.71 and 4.72 were there well before the stock got there and were legit big blocks. That would be the next resistance line for me...and I think you are right that 4.50 will probably be support.

 
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