Re: cliffs buying at a discount.

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Rockpicker

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Re: cliffs buying at a discount.

in response to

cliffs buying at a discount.

luckylou

posted on Jul 05, 2010 11:09AM

I have been watching the trades this morning and it appears that TD Securities has been selling and then buying their sold shares back. In only one trade have they let the shares go to someone else and the amount of the shares was only 400.

They are doing the same for KWG, except that they are also buying shares from other sellers.

It appears that what they may be doing is trying to generate a large number of trades to give the appearance that Cliffs will reach their goal and that other SH may as well sell or tender their shares.

I just about sold my shares into the market this morning but changed my mind, as I don't see Cliffs getting to the magic number and therefore they will be offering more to get SPQ.