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MARK: Trading Yesterday Signals Upward Move

|Includes:Remark Media, Inc. (MARK)

Interesting trading near the close in Remark Media (NASDAQ:MARK) yesterday. The last 7K shares that were bought were mainly bought at the ask, 100 shares at the time.

Watching in real time, as at least three sell orders of about 1-3K shares were chipped away at, you got the impression some sort of computer was buying 100 shares, waiting a minute to see if anyone wanted to sell some, buying another 100, watching the number of shares on the ask dwindle and buying more. Right near the close, whoever it was then bought about 3K at the ask.

Given there had been selling pressure for the last few weeks, either someone is closing out shorts or more likely, trying to pick up a position before the acquisition of BNNX closes. Should be fascinating to watch the trading today.

Disclosure: I am long MARK.

Stocks: MARK