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railrider

10/12/10 10:52 AM

#71469 RE: nez #71459

About 140,000 buy and 38,00 sells. Should be moving up?
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Ransom

10/12/10 11:00 AM

#71480 RE: nez #71459

I don't know your experience, and I'm still learning lots myself - but I think you have to remember that a 'Sell' is simply a transaction At The Bid, and that a 'Buy' is simply a transaction At The Ask, so some of the Buys are really Sells at the ask, and some of the Sells are really Buys at the bid. On a low volume day like this, and especially if the theory that lots of short-covering is being attempted is right, a drop in price can be expected - there simply isn't enough Buy volume at the ask to drive price up, or even maintain at yesterdays levels. On high volume days, or even low volume days like this, I think you can reasonably guess that most transactions at Ask are really Buys and most transactions at Bid are really Sells, though today, with PPS dropping, and especially waiting for this dividend, I might guess that a good number of Sells are really Buys at Bid with buyers easily picking up (air) shares at declining prices.