The GM Pension Fund tranche of NCPDP was placed last night with 60% going to oz insto's (according to Deutsche).
Adjusted price = $10.46
My belief was that it removed much of the demand for on-market buying today. However I also also lean to the view that a lot of traders trade NCP as a proxy for the Nasdaq, so that may have something to do with the fall-off too.
As rembrandt points out NCP is trading a tight range atm. My 'cunning plan' is buy at 1170ish, sell at 1240ish (or vice versa).
