re: 12.5 close!!!...fletap... FletaP...Not quite right...There...

re: 12.5 close!!!...fletap... FletaP...

Not quite right...

There was initially a 1m seller at 13, who was left with about 800k for some time earlier in the day, before eventually being taken out.

Yesterday's last minute seller only appeared when there was about 2 minutes of trading to go.

He first hit the 13.5 with about 1.2m shares (it was an odd number), filling about 180K or so...he then sat waiting at 13.5, in an apparent atempt to encourge more sellers. During this time, he could have amended his order to 13 at any time and completed his trade, but he didn't.

With just 6 seconds of trading to go, an order of 50K hit the 13c bid, once again in my opinion, designed to create doubt in the minds of anyone considering to take him out.

He then amended his remaining 1m+ order to 12.5 during the closing price auction, finally closing out at this price thanks to some careful volume placement on the buy side.

I can't believe someone with so many shares could be so stupid, which is why I think he wasn't!!!

We now have a 12.5 finish and a market somewhat spooked...perhaps exactly what he wanted?

Cheers!