RE: TSX1 Mar 2024 17:31
LK, someone wanted a big chunk. I remember reading about a hedge fund trader that would have a specialist work an order within a specific price range for months. So if something looks stuck or held down there’s a good chance someone really is holding down, to accumulate a big order. Once you realize that by selling a few hundred thousand could net you a couple million at your price it makes sense. Perfect time too, with day traders thinking this would double off good news. Specialist knocks it down, day traders sell, people on fence not only don’t buy, but ones on fence about selling throw in the towel and sell. Then add in stock loss orders and you got yourself a nice chunk at a cheap, de-risked price. The article also said the last 5-10% of the order would be a sweep of the street, so when he says I filled your order at an average of .13 and look at it now, trading at .16, the specialist looks like a genius. Nope, this is all playing out perfect. Definitely a good time to add. Of course, I’ve been in since the Bruner days, but have never been more excited. The Bruner curse is finally disappearing. And, with a number of averaging down buys and a sell here and there on pops I am in the green, so that helps buoy my spirits. Patience, our time is coming.
T