Quote:
Originally Posted by Orruar
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When the entire number of outstanding shares are traded in a single day, you have to know a whole lot of flipping is going on. Also, do you realize when you look at the volume information somewhere like Google Finance, they aggregate all the trades over a 2 minute window? That is often dozens or hundreds of trades. In fact, looking back over the past 2 days, there's only two 2 minute window where more than 3M shares changed hands. Your theory about people buying up huge blocks of shares is unfounded. I'll have my brokerage window up tomorrow and will look at the bids/asks for any of these huge blocks. At this point, I think you're looking for excuses to keep riding this bet. Chronic gambler indeed.
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Yes keep an aye on it. You may not see tons of 3 million share hits but you will see a lot of 100k-300k buys go through throughout the day. Its not just NITE and the MM crew flipping for the gains. From studying the trade paterns the last week it looks like a good chunk is being accumulated.
Additionally it wasn't the entire float traded in a single day. OS is around 240 million.