If I didn't know better I'd say someone was shorting OCC. Unusually I watched OCC trading for most of the day. Crappy thousand lots or less just hitting the bid all day and the usual sell through the bid at day end. Bought a bit today in preparation for the next inevitable spike on ATI news due this month.
@Hotdog11 I used to think your rants about stock manipulation a bit unfounded. I apologise. Suspect that's a really crappy insto' execution algorithm struggling with off-loading some volume in a thin market that looks a lot like someone trying to down tick it all day long - no retail would be able could justify the cost of so many small executions.
Lets hope this tardy, complacent management, via the atrributes of their great products rather than any managerial adroitness, manage to pull a J&J partnership out of the hat with the final ATI data, to rescue OCC shareholders from the gloom. I'd be buying OCC if I ran J&J, but a long hinted at partnership would be very welcome to shareholders right now, so we can get properly 'excited' about the future too.
50-75 BPS interest rate tonight in the US of course. Fed always said 50 bips, but the market increasingly calling 75. Suspect it will have a bounce if only 50 points, continued fall if 75.
OCC Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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