What was going on with MVK at the close ???

Discussion in 'Trading' started by chs245, Jul 11, 2002.

  1. chs245


    Did anyone follow the action in the last 10 trading minutes in MVK ?
    MVK was supposed to be added to the SP600 index as of the close of today. So traders usually suspect indexers to buy heavily in the last minutes before the close. Usually the specialist indicates 20 min and 10 min before the close what the imbalances are.
    In this case, there was a relatively small imbalance at 15.40 of 99900 shares when the price was around $13.1
    10 min later the imbalance was gone (the price was a bit higher, so enough sellers had materialized).
    The odd thing though is that the specialist lifted the price in the last second of trading from $13.45 to $14.45.

    Can anyone explain this move in the light of no published imbalances ?
    As a buyer, I would feel ripped off quite dramatically. (Luckily I was a seller, but I would like to understand why I hit the jackpot...)