A question about the actions of Large Players

[Ellis Wyatt]

Pascal,

The current equities range obviously has us independent amateurs confused. I'm wondering if you have ever given any thought to intervals in which the large players act similarly confused? The below image reminded me of the book's IMAX example:



FITB is a regional US bank, not special in any particular way. They paid back the TARP, but nothing material has changed since the last earnings, which missed @ $0.10 v. expected $0.26 and lower revenues, on April 21.


The IMAX example was a case of false-positive, where value investors rush in, turn out to have mis-timed, and are then followed by bottom feeders (who may also turn out to be early). Have you, or anyone, seen this double-clutch pattern before in a case where there is no news of significance?

(I'm not buying, nor do I hold this name. But I've seen a couple of these double head-bumps lately, and they seem new. Unless it's just that I'm relatively new with EV and haven't seen enough permutations yet.)