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Message: "operation"

"operation"

posted on Apr 08, 2008 12:19PM

Looking at the price and volume on KBX between 11:35 and 11:45 ET I would be inclined to say some short seller ran a nifty operation on the stock today. They put out a test batch of 20k shares which the market absorbed fairly well. They waited a bit, sold another 10K shares and this time the market showed weakness. They then dumped 50k clobbering the stock price to $1.41. They sold another 25K which failed to depress the price very much. I then suspect they went long to cover with a $1.41 limit order and got back 45K of those shares for $1.41. The rest is not so obvious.

True, this could be a misread on my part and just a panic sell by a frightened long but it sure doesn't look that way on a 1 minute chart.

If you're not in this stock for the long haul, you probably will lose money for yourself and everyone else who likes this company as you facilitate the short sellers.

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