The guys that move the market

joethemoustache · Feb 7, 2003

Almost everyone seems fascinated with the actions of large players. It's kind of comforting to be on the sell side of a stock if you know Buffet is clearing out his inventory. But how useful is knowing the identity behind volume really? Is selling pressure different from selling pressure depending on the credit lines behind it?

How many of You keep track of what others do and use it to make trading desicions on a regular basis? Just curious.

qdz2 · Feb 7, 2003

I was watching one stock today with daily average volume of 1-2M. It was trading smoothly on NYSE with $.02 spread . All of sudden a trade of $160K down $0.15 crossed the tape. Everyone was hit and panic by it and started to sell. I guess what happend later was that whoever took the $160K order got out up $0.1. Then the slide continued for further $0.1. And maybe will continue in the next week IMO. The buyer and seller of that $160K trade are both institutional manipulators.

stokhack · Feb 7, 2003

Normally large block sales always cross the tape a few cents lower than the bid. Nothing unusual there.

goldenarm · Feb 8, 2003

Yeah...only the newbies panic out when they see block trades going off.

dgabriel · Feb 8, 2003

Those are negotiated trades, and if its a dealer taking on inventory, thus the discount.

murray t turtle · Feb 8, 2003

Quote from goldenarm:

Yeah...only the newbies panic out when they see block trades going off.

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Not likely Mr. Buffet will let us know in time to help;however 30 minutes of block trades or more help with the plan .

Figure a block trade= about 10,ooo shares and more.

exce26 · Feb 8, 2003

Ted Turner dumped 20 million AOL shares.....
Did anyone see that in real time?

stock777 · Feb 8, 2003

Quote from exce26:

Ted Turner dumped 20 million AOL shares.....
Did anyone see that in real time?

I heard he sold them through Janes acct.

hardrock375 · Feb 8, 2003

Quote from exce26:

Ted Turner dumped 20 million AOL shares.....
Did anyone see that in real time?

You may wish to check your facts. Ted Turner recently sold $20 million worth of AOL shares, and not 20 million shares.

P.S. My source is Reuters, what is yours?