Quote:
Originally Posted by coordi
Someone has been selling off a massive position, 100 shares at a time, for a month or more.
I've never thought that is what was going on. I've always believed it was a firm trading on the bid/ask spread. They were happy to make a buck or two here and there by buying at the bid and selling at the ask.
I've often put in a bid, at say $14.30, only to have it raised by a penny to $14.31 at a volume of 100 shares. I'd then put a bid in at $14.35 and within seconds the bid is at $14.36, again for 100 shares. Doing that enough times convinced me that someone was just looking to make money on the spread.
Might be wrong, but that's my sense of what was happening.