I had to go out to dinner and did not come back until much later. This morning, there were only 2600 shares on the bid between $34 and $38.85 or so, I think that last night it must have been similar. A fund manager simply dumped 15,000 shares or so on a thin after market order. The reason for the dumping? It could be related to Parmalat expected bankruptcy, maybe WM has an exposure (in form of debt that will probably have to be written off. ). I doubt this exposure is great, but such a dump in a thin market will do that (it has happened more than once recently in other stocks). I actually got a double position, I had an OB at $35.15, but I did not know (when I saw the B/A at $30 to $33.64) if it filled (it did at the same $33.64), so I jumped on the ask with a little more. That second serving will probably go early in the morning session. WM is very fairly priced in the $38/$40 area with a yield above $4% which I doubt is at risk.
In edit and here went one serving of WM at $39.40, Thanks, whomever was the dumper yesternight. Also near the open, back in SNDK at $59.20 and CCMP at $48.28.
In reedit, in BLTI here at $15.94, it already printed $16 and making a breakout is "self evident".
