Discussion in 'Trading' started by sallyboy, Jan 31, 2002.

  1. sallyboy

    sallyboy Guest

    Someone please take a look at the time & sales on MWD and tell me how a specialist can close the stock at about 54.03 while showing a closing bid & ask around the closing price & then a full 7 minutes later through 15 minutes later print massive trades at 55.00 !!!!!! The big trades at 55 were about 800,000 shares.

    Granted that is a huge amount of stock, but how can the specialist take a trade like that so long after the close. OK, he/she was probably working on it as the close approached, but to not show anything at all and leave all the other bloaks out there to get a close/near close of about 54 while trades are going off at 55. That's a friggin' dollar!!!! Frankly, I don't give a sh*t how much volume that is, those trades should have gone off & been VISIBLE during normal market hours or they should have had to wait until tomorrow morning.

    Give me a break!!!!!!!!!!

    Let's hear your thoughts on this.
  2. vikana

    vikana Moderator

    are you sure that's the specialist and not some trade on some ECN ?

    My quote provider doesn't indicate that it's a NYSE trade
  3. sallyboy

    sallyboy Guest

    Just checked again.........definitely, my time & sales in Realtick labels it as an NYS trade. Plus, I doubt that about 800,000 shares would go through on an ECN, especially in a listed stock. And it indicates as the closing price, if it was an extended hours trade it would not reflect as such.

    Thanks for the response. This just really pisses me off because I would have liked another dollar on my 1000 shares!
  4. vikana

    vikana Moderator

    same here. I sold my MWD a few minutes before the close. Something doesn't smell right !
  5. sallyboy

    sallyboy Guest

    I sold just a few minutes before the close so I wouldn't have gotten it anyway, but there should have been some kind of sign that the thing was going to bump a dollar. Many times I'll sell as I hear the closing bell, but in this case I would have still gotten 54. Just doesn't seem right somehow.
  6. vikana

    vikana Moderator

    i agree. something isn't right. There is no way that all that volume can go off after the close without any indication prior. There was not a whole lot of activitiy the last 10 mins
  7. moffitt


    Guys you need to confirm where that trade took place.
    If it were on the NYSE and traded on the runoff of the tape
    you would have a legit complaint . That is if you were in at the close. If the Spec knew of putting up a print then anything at the close should go off on that sale. :confused: This would be a very fine line though. The key is where did that stock get printed?
  8. Tony01


    Esignal time of sales shows several big blocks @ 55 plus, including a 233500 and a 360700 both thru NYSE. The other "size" ones went thru THRD.
    That is crazy, a dollar higher then the price 4:00 price!
  9. sallyboy

    sallyboy Guest

    My records are showing a few real big trades going off at 16:07 which are labeled as NYS trades. They are what makes the closing print of 55 versus the other trades at 16:00 of 54. Granted I got out a few minutes before the close (normally I wait until I hear the closing bell go off to execute), so this time I wouldn't have gotten it anyway. However, the spread should have been moving up a few minutes before the close. If it was a market on close order that posted by 15:50, then it would have been known by the specialist and the market should have moved up well over 54. If that happened I probably would have held on until the bell.

    Not that I'm going to get anything out of it, but how would you complain about this anyway?
  10. tuna


    If its of any help.....
    #10     Jan 31, 2002