Hi all,
I'm learning to reading price/volume action in my stock trades (not day trading).
One of the stocks I was looking at, OCN (Ocwen Financial), if you look at the 1-min chart for June 4, 2012, at approx 3.12pm, there was a transaction with mega volume of 58,400 shares.
I have always been puzzled about these volume spikes, how can it be possible to execute that amount of volume in that 1-minute?? I don't have access to DOM but it just doesn't seem that the order book would have so much shares to clean out.
These volume spikes are frequently seen in other stocks as well? What causes them?
I was thinking that it might be a block trade, but those should be executed at some price typically outside of the bid-ask and usually reported towards the close of the day. So I still don't have an answer.
Would appreciate if someone more knowledgeable / experienced can help clarify. Thank you!
I'm learning to reading price/volume action in my stock trades (not day trading).
One of the stocks I was looking at, OCN (Ocwen Financial), if you look at the 1-min chart for June 4, 2012, at approx 3.12pm, there was a transaction with mega volume of 58,400 shares.
I have always been puzzled about these volume spikes, how can it be possible to execute that amount of volume in that 1-minute?? I don't have access to DOM but it just doesn't seem that the order book would have so much shares to clean out.
These volume spikes are frequently seen in other stocks as well? What causes them?
I was thinking that it might be a block trade, but those should be executed at some price typically outside of the bid-ask and usually reported towards the close of the day. So I still don't have an answer.
Would appreciate if someone more knowledgeable / experienced can help clarify. Thank you!
