These iceberg bids are bids that are usually from institutions although retail using a broker will have them as well. They are used to disguise/hide the true size of the shares that want to be moved. If I wanted to buy 100k shares without tipping my hand that I want to buy so many, I would put a bid for 10k, once filled, I would put a second bid for 10k and so on until I had my 100k filled. Iceberg bids do this for you. You tell the computer program how many shares you wish to buy, at what price, how many shares you wish to display (in my example 10k) and voila, the computer keeps putting up bids of 10k until it reaches 100k or you change the parameters.

In any case, seeing anonymous or institutional houses that I respect buying with this strategy is a good sign IMO and that is all I was trying to convey. Someone wants more shares and that is a good thing. I heard that Frank C. and James T. are having lots of meetings this week with institutions, hopefully we see more of these iceberg bids!

Glorieux