Well, i've always heard the after hours ones explained away, but I no longer believe its all that benign. Just read the history of the terrible fight Overstock.com had.
And today, right in the middle of the day, you will find that I managed to catch 2 huge "below the market" trades. Both were at what turned out on the chart to be critical junctures and both had some major below the current bid pricing.
It just does not follow that those huge below the bid blocks were makeups during all the ongoing froth of a trading day like today. Those were not make up trades. Not mid day. Not mid stream. Not in the heat of the froth. Nuh unh. Don't buy it.
The only logical explanation I can reach is that they represent the attempted shorting that went way wrong and got called as this puppy climbed like a sky-rocket.
I mean, how many people who, like me, had been in this thing and seen it climb three straight white candle days on increasing volume.... how many people expected the fourth day to be like this one?
Frankly, I expected a brief upturn and then a retrace and a battle. You know, fairly standard fare for three day winners. They do a max of three days and then they retrace, settle, and a range get set in motion.
So, that said, it makes a certain kind of logic that somebody might have been willing to, early in the day, take a runner at shorting this puppy. But when it ran like it did and we see some major blocks cross at well below the bid... way out of whack with ordinary bid ask volume and pricing....
Well, it sure looks like a duck, and quacks like a duck.... so I can't but believe it was a duck.... a cover-this-minute demand placed on the short that caused the block they had shorted to cross the wire in a huge chunk. The two attempted manipulative high risk shorts fell under the wave of frantic buying.
The two huge block that crossed way below bid are what makes me think its the way it was. Its not going to try to adjust itself in real time to compensate for huge missed trades. The explanation has always been that being this happens AFTER market.
So, that said, I'm just an average joe in suburbia and what the hell do I really know anyweay LOL
Imperial Whazoo
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