Re: No material change
posted on
May 03, 2017 01:26PM
Agreed, and if I can add a little something to this.
We saw a major headfake in early January (double this size) on no material news, perhaps someone or entity making a buck at retail expense. The regulators didn't act on that one and perhaps heard about it, so they weren't about to miss this, especially with the PO history. IMO, for the longs this is a bit of "tough love" from the regulators, but more importantly, a message to the market that unusual activity will not go unchallenged: please take your games elsewhere.
One thing for sure, we will eventually move on solid news one way or the other.