Looksmart Limited (LKST)

[andy20020]

smugs re AH trading. Good DD! The interesting thing about this is that the service I use (and I assume the "normal" public commercial services) DONT trade between 4pm and 4.15pm. So perhaps what the figures show from after 4.02pm to about 4.20pm are mainly off market transfer of two X 2.6844 million share parcels at a predetermined price.

http://host.businessweek.com/businessweek/Historical_Quotes.html?Symbol=LOOK&StartDate=07%2F30%2...

Why $4.403 ??? $4.403 ??? As I reported during the day the days trading was manufactured to hell ... no reason for some of the bounces .. one minute the MM was selling into support next thing he goes the other way ... I wonder if he wanted to close it as close to open and $4.40 as possible. Certainly the $4.80 level was shorted as was the $4.25 level bought.

Then at 4.30 pm the MM just packed up and went home leaving the trading to wander down till close of AH trading. But always trading at or above $4.25 except what looks like 900 shares at $4.24. (when the junior MM in training went to the loo! LOL)

One possible alternate idea is there was only one parcel of shares transferred .. but they were transferred twice ... once to some insto then again a few minutes later at the same price to their holding company ... Makes more sense to me than the likelihood of two identical parcels trading. But the significance of 2.6 or 5.2 Million shares AH is probably not an issue. What's the stock price going to do next?

So If this is a jack up ... with the Asian indexes off today and so much economic data out .. they should try to push it under $4.25 at open and force it down to $3.90 - $4, then they buy it big time depending on news and the market.

If old Elliots wave theory can be applied (and I'm a rank beginner here) ... then last night was the top of the last fifth leg ... so we should now get a three leg down cycle ... first (probably) to 31.8% retrace ... $4.08, then a rise to $4.44 then the big leg down to $3.675. At which time we start another five legs up. (all assuming no news!!!)

Then again, perhaps the yanks did land on the moon after all!

I'm going to watch the pre market trading tonight with interest and get ready for an active night.


Regards