No PP buyer would sell into a panic sell as we experienced today. The PP company that I know of was flat this position for months now and they very slowly bled their position out over time as not to show selling. I have watched our company’s trader work large sell orders and there is quite the art to moving a large position. They will manage the floor and pull the order rather than create a perceived panic sell as we have seen today in ERHE. This is just my experience and IMHO.
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