Correct.
20120910|RFMK|6046359|0|23797807|O
Though all must keep in mind that typically most or all of the short sale transactions are covered on the same day, therefore MMs or other participants actively shorting and covering shares borrowed and then covered lower by scared longs selling at the bid are most probably shorting say 6M shares but then covering 6M shares later in the day; why does it seem like each day there is such downward pressure at the very end of the session? Chances are the buyers have already used up all their dry powder for the day and then volume falls off a cliff and there are the MMs and shorties playing footsies with each other printing lower and lower trades as to trigger stops placed low by day traders. If 6M are shorted then 6M are covered then actually about 12M for the day were involved in this little game of footsies, with the other 12M was probably either block trade transactions and/or actual real regular retail trades. I have explained this all before but its worth pointing out that to legit short, all an MM has to do is use the borrow process to find shares in margin accounts and short them, then using those newly borrowed shares to dump on the bid or place on the current ask (to stack the ask) and make it appear that there are massive sellers one tick up from the bid to scare away buyers and/or push it lower. NITE is the primary trickster involving such tactics. The overall volume of 24M intraday shares is rather low, even enemic. That means only about 2% of the shares in the company are trading and pulling the share price up and down ~20%, it means nothing. Others like to point out that the PPS ended up one tick higher than the low of the day however this "paint job" can only be judged relative to the main "paint job" that is done all day with shorting and covering lower later on each day. Notice that only about 3.5M shares out of the total days 24M shares were traded during the final 45 minutes of the session in the red today. So that in and of itself is a "paint job", the final trade of 5000 one tick higher is surely a "paint job" but the PPS was already down at that range because of a few thousand dollars worth of shares changing hands in the last hour of trading. Do not worrying about or trust PPS moves that occur on low volume, especially when most of the volume for the days session took place right around the previous close .002. Note :
15:59:32 0.0017 5000
15:54:58 0.0016 515000
15:54:56 0.0016 300000
15:51:51 0.0017 33000
15:51:29 0.0017 261176
15:51:08 0.0018 5000
15:49:33 0.0017 370000
15:49:07 0.0017 1251122
15:48:57 0.0017 142941
15:48:57 0.0017 222000
15:47:39 0.0018 15495
15:41:49 0.0018 84505
15:40:15 0.0018 55000
15:40:03 0.0018 500000
15:40:03 0.0018 125000
15:39:03 0.0018 225000
15:34:19 0.0018 1500000
15:02:44 0.0019 15000
14:42:48 0.0018 900000
14:37:22 0.0019 123000
14:36:21 0.0019 100000
14:33:40 0.0019 5000
14:33:39 0.0019 155000
14:15:36 0.002 50000
14:13:25 0.002 220000
