A safety net for MNDOPosted: August 29, 2013
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This posting is the second in a series of trading peculiarities observed during the period of the last weeks of August of 2013 (go here for the first posting.)
On August 22nd, 2013, I published a brief posting (here), containing a Level II image for MNDO, a NASDAQ traded equity for Mind CTI Ltd., an Israeli company that I have written about at length in the past (for a recent posting about Mind CTI Ltd., go here.)
Generally, the image showed a buffering of MNDO by BID/ASK pairs of more than 45 thousand shares. In one end of the buffer was a BID block of 47,700 shares at $1.68 per share.
Having over the last week observed the level II activity for MNDO, I have formed the view that the 47,700 shares BID block is a constant. Today, for instance, the block was still there:
A persistent BID block of a fixed and significant size can, of course, mean anything or nothing. Regardless of its meaning, however such BID block does create a tentative Browder Life Safety Net, which can help solidify buy decisions.
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