lol, you were warned, told it was CYA at it's very
Post# of 154851
(Total Views: 619)
Posted On: 04/01/2020 3:51:08 PM
lol, you were warned, told it was CYA at it's very best.
This is a response to me from the smartest retired wallstreet connection I know about the closing price drop on the 31st and what I think is a general comment at the end...
<<Just from a brief look at the chart and not even paying attention to the actual volume it looks like a market on close order imbalance. The rebalancing going on for qtr end is very common. What isn't as common now is the market making is being done remotely by in some cases MM's at home or remote sites but with limited staff. Much less capital is being committed and algo traders are taking advantage of /frontrunning these order imbalances in the last 10 minutes (and opening 10 minutes as well) of trading days.
There may also be momentum traders/day traders just closing out positions by the end of a day or qtr but much less sure about that or the technical level of where it was trading.
One other possibility is some broker being aware of stop levels and running it down to accumulate or protect a short position from being marked to market at end of day.
Just guesses on my part but the end of day speed of direction both ways in the last week is a reflection of lack of market makers being willing to smooth out order flow. I think April is going to be tough month in general.>>
This is a response to me from the smartest retired wallstreet connection I know about the closing price drop on the 31st and what I think is a general comment at the end...
<<Just from a brief look at the chart and not even paying attention to the actual volume it looks like a market on close order imbalance. The rebalancing going on for qtr end is very common. What isn't as common now is the market making is being done remotely by in some cases MM's at home or remote sites but with limited staff. Much less capital is being committed and algo traders are taking advantage of /frontrunning these order imbalances in the last 10 minutes (and opening 10 minutes as well) of trading days.
There may also be momentum traders/day traders just closing out positions by the end of a day or qtr but much less sure about that or the technical level of where it was trading.
One other possibility is some broker being aware of stop levels and running it down to accumulate or protect a short position from being marked to market at end of day.
Just guesses on my part but the end of day speed of direction both ways in the last week is a reflection of lack of market makers being willing to smooth out order flow. I think April is going to be tough month in general.>>
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