Ok, well this is what i found out about T type trades that are posted after hours (below)... so it seems to me an institutional buyer is having their order split up during the day and then the total of that order is posted AH...
"Brokers and institutions with larger orders than those bid and offered on screen will leave an order with a market maker. Market makers and brokers spend a great deal of time building relationships and market etiquette prevents them from doing the rounds of market makers and splitting the order up into smaller chunks. Often, you will see prices move without a corresponding print on the time and sales screen, as the market maker will be working a larger order for an institution or broker, which will not be printed until the end of the day. Such transactions are marked with a 'T' to represent a protected trade. Figure 2, above, shows 250,000 shares booked out from protection at 390. Look for protected trades at the end of the day as they often signify an institutional order that could create a bias in a stock’s direction. A comprehensive list of trade codes is also available on www.benedixinvestments.com
A stock can fall all day long for no apparent reason. Once the sell order that has been worked all day gets trade-reported, the reason for the fall becomes a lot clearer."
AI
