Wm Read The Tape

Discussion in 'Stocks' started by 50cent, Oct 26, 2007.

  1. 50cent


    I know everyone trades fundamentals but im curious to see if anyone has noticed the time and sales on WM since its decline at 35$. Im a day trader at a prop firm and I noticed something very odd. Since Oct 15th threes been someone on the bid for 50k shares at every point down. Someone’s buying big block of this stock on the way down. Check Time and sales on this one. Oct 15th 9:40 50k at 35, 10/16 9:38 20k at 33.5, 10/17 10:28 70k at 33$, 10/23 11:12 90k shares at 28.5, 10/24 10:47 450k shares at 28 and another 50k block at 15:44at 29$, 10/25 11:41 60k shares at 28$ and at the 52 WEEK LOW 27$$ 13:27:47 120k shares didn’t get filled it bounced at this level. And finally today 15:15 another 50k shares pops up at 28.50. So ive noticed this for the past couple weeks because I day trade WM. I don’t hold any overnights but I can’t help but think of the implications of this. Things I am certain of. It is the same guy buying on the way down the blocks look similar as they are usually listed on NASDAQ ecn and are usually around 50k blocks at 50 cent intervals on the way down. So someone is building a huge position on wm as its getting crushed. A little suspicious especially with all this bearishness surrounding it that someone would decide to fade this thing all the way down. So whys he doing this 2 reasons either buying because he knows some thing. Anyone whose playing that much stock I have to assume they have some reason for accumulating such a huge position. They could have also been short and just covered as its getting killed although this situation seems rather unlikely since there wasn’t any unusually volume in the 40's. Or another situation could be that someone even bigger sees some guy accumulating this position and decides to sell until this guy gets squeezed. I don’t know whets going to happen but this is highly unusual trading the past couple days I cant help but think someone’s accumulating a huge position and has reason to believe it is going to go higher.
  2. 100k shares for every point in this stock is nothing. Look at how much he trades on average.

    What you're doing seems more like shot-taking than tape reading. For all you know the same guy who puts those bids in hits them himself.
  3. Those trades are TINY. Wait till you see a 2 million bid. Then ask that question.

    CAL had one @ 29. Ran down to 26 after it was completely filled.

    2 days after it was upgraded.