re; pushing the price down
in response to
by
posted on
May 14, 2008 03:03PM
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I keep running this scenerio thru my head and i did wander if anyone else was on that track. The guy with the big block someone said from q trade did not see him but there is still the same block from the same trader with 24500 shares for sale at 65 I do not know how many of his origial 61000 shares were actually sold but if you want to sell it seems to me he could have sold on monday and got a better price. The next large block is at 72 30000 shares for sale. If I wanted to hold the price down or take it lower and had lots of shares as my back up that is exactly what i would do place large blocks 1 cent above the ask then buy all the shares coming on the market within 2 to 3 cents of the ask this would keep the spread large enough to limit the amount of buyers. There is 45 to 60000 shares wanting to buy at the 58 to 59 level Ro42wal do the support and resistace levels coincide with these figures on your charts.
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