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Tuesday, January 15, 2013
What the fuck is PI Financial doing?
What the fuck are you trying to accomplish with the odd lots, guys?
I'm pretty sure PI is a boutique. They don't make market.
PI isn't dumping the odd lot, they're leaving an odd lot on the ask, once in a while. Multiple housing buying odd tells me it's PI that's selling odd, not the buyers buying odd.
What I left unsaid was I think they're sniffing out whether another insto is starting to accumulate: I'm assuming that retail isn't allowed to be filled with an odd lot unless they ask for it: certainly if I had bought at 10:25, say, the 446 fill would have been immediately followed with a 54 share fill, while in this case house 85 bought 446 and that's it.
So my assumption is PI knows other instos want to accumulate, PI already has a seven-figure position, they're all just probing each other right now, and when they finally hear the exploration update is coming next Friday post-bell it'll be off to da races to da moon Alice and so on.
Now if only that lurker jerk from PI were to actually post in the comments. Even once.
Odd lots don't appear in the "regular" market. They are accomplished with a phone call. PI is obviously the designated market maker for odd lots, the deal in question has PI as a market sponsor most likely.
No money to be made in peeing around with odd lots, the opposite actually.
To be VERY correct its called the "Special Terms" market.
If there was a short squeeze (it happens, very rarely) and a body needed paper RIGHT frikkin NOW (without the 2 day settlement delay) they would go to the "Special Terms" market. Of course they would need to pay a premium over the current market price.
Hey, knock yourself out, I wouldn't mind hearing it. I know little about Pacific International. You've been edumacating me so far.
I do see btw that they often act as designated market maker, but I've only really seen announcements of that re the OTC market. If PI was MM on CXB, would there be someplace where this was announced?
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No idea what your problem is exactly. Brokerages are designated to make a market in odd lots ... buy or sell.
ReplyDeleteSome dorkus needs to buy 499 shares? Fine, the brokerage will do the deal.
I'm pretty sure PI is a boutique. They don't make market.
DeletePI isn't dumping the odd lot, they're leaving an odd lot on the ask, once in a while. Multiple housing buying odd tells me it's PI that's selling odd, not the buyers buying odd.
What I left unsaid was I think they're sniffing out whether another insto is starting to accumulate: I'm assuming that retail isn't allowed to be filled with an odd lot unless they ask for it: certainly if I had bought at 10:25, say, the 446 fill would have been immediately followed with a 54 share fill, while in this case house 85 bought 446 and that's it.
So my assumption is PI knows other instos want to accumulate, PI already has a seven-figure position, they're all just probing each other right now, and when they finally hear the exploration update is coming next Friday post-bell it'll be off to da races to da moon Alice and so on.
Now if only that lurker jerk from PI were to actually post in the comments. Even once.
Multiple houses, not multiple housing.
DeleteOdd lots don't appear in the "regular" market. They are accomplished with a phone call. PI is obviously the designated market maker for odd lots, the deal in question has PI as a market sponsor most likely.
ReplyDeleteNo money to be made in peeing around with odd lots, the opposite actually.
So is that why PI bought a couple million shares last Oct-Nov?
DeleteIf PI took down that much paper (for their clients) they are almost certainly the sponsoring brokerage for the deal.
ReplyDeleteTo the best of my recollection, it was easily >2M shares, and that's just the total of what I saw when I started following it day to day.
DeleteTo be VERY correct its called the "Special Terms" market.
ReplyDeleteIf there was a short squeeze (it happens, very rarely) and a body needed paper RIGHT frikkin NOW (without the 2 day settlement delay) they would go to the "Special Terms" market. Of course they would need to pay a premium over the current market price.
This is a 20 cent stock on a good day. Shorting?
DeleteJust saying. Odd lots are a form of "Special Terms" is all.
ReplyDeleteZero here to get those hackles of yours raised, unless you wanna get into PI's history. (lol)
Hey, knock yourself out, I wouldn't mind hearing it. I know little about Pacific International. You've been edumacating me so far.
DeleteI do see btw that they often act as designated market maker, but I've only really seen announcements of that re the OTC market. If PI was MM on CXB, would there be someplace where this was announced?
BTW, PI's following this thread. I think, Ace, that you're the type of fellow that enjoys knowing that sort of thing.
Delete