Washington Mutual Preferred fka WAMPQ

[marayatano]

Here is my previous post:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69154946

marayatano Member Profile marayatano

Share
Friday, November 18, 2011 2:49:46 PM
Re: clawmann post# 37835
Post # of 37864



What I have noticed, is when retail buys, it the PPS goes up (because of the multi MMs competing one another for price). When "big fish" buys, it goes down or the PPS gets "capped" (by 1 MM that accumulates).

That is why we see large volume and little to no price movement.

Strictly my opinion.

Here is a good break down of the above from the Y:

The 6604 after hours trade is more than likely a ticket written at the end of the day to a client (a buyer) from a B/D. The way it works is a buyer (or a seller) will give an order to a B/D for let's say 10,000 shares of PQ's at $25 or better, good for the day. The B/D will then spend the whole day accumulating shares in small blocks (because no large blocks available). So the B/D buys all day long in 200's or 300 share pieces. At the end of the day they were able to accumulate 6604. They then write one ticket on the 6604 to their buyer at $24.10. There average may of been $23.75 and they kept .35 commish.
So these shares are more than likely double counted, counted once when the B/D bought them from retail in the smaller pieces, and counted again when the B/D sold them to the buyer at $24.10.

imo