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The clustering of accumulation in September of 09 revealed significant on-balance buying.
It looks to me like Justin Leverenz at Oppenheimer Developing Markets is trying to work out of his position. SOHU was .54% of his fund at last report. Is he moving out of other China or gaming stocks as well?
Thank you Market Smith for making all this info so available.
.54 % of the 23 billion fund is about $124 million to unload. If he is unloading, I don't think he is reducing from .54% to .25% , he probably wants out of the whole position. if SOHU trades $165 million per day, he would need 15 days to unload the 124 million, if he traded 5% of the average volume per day. That is if he didn't give it any days to rest or bounce. That would leave about 21-30 days of Levernz selling. Who wants to buy into that? This part of Market Smith is fun but not as tradeable as tape reading. Tight at the top on top of tight trade tends to quickly reveal the buying. Tight in the lows below previous tight trade tends to reveal selling.
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