POT-Potash Corp This stock's daily movement is amazing. I like it. I have one question though. On 6/17/07 around 11AM Eastern, the stock jumped $2.50 instantly due to heavy institutional volume. Then the stock plummeted as did the rest of the market. When I see stocks jump like that, I automatically look for news thru my broker's streaming news service. I could not find any. So, whatever big institution bought it, they obviously placed some type of order where they buy at a specific price, it was not a limit order as I know what limit orders are (limit order is at that price or lower), they bought it at a higher price than the current stock price. What type of order did they place (stop? stop limit?). The stock jumped from about $74 to $76 in about five seconds. This is one reason why I do not like trading stocks as they can gap any time. I would rather trade indices or the eminis since there is not as much volatility, but indices do not move like stocks do. Any comments? Thanks.
shish, i learn something new everyday in these markets. that's why i love the stock market. i was not aware of this type of order. it might have been an MIT, but why would an institution buy higher than the current price? weird. also, the price had been going up for about three days already. why would an institution want to do that when they know they need to buy on a retracement? thanks.
Hello Surely someone knows as to why the stock jumped like it did on 6/7/07 due to some kind of manipulation. I just want to know the reason as this kind of stuff can make you queasy if you shorted intraday 1000 shares and the stock does this kind of move on ya without any warning, and you lose $2500 instantly because of your stop loss placed above the prior swing high during the day if you were daytrading. Come on folks. Thanks.