aucontraire, mon ami....
I'm afraid, in this instance, you're the one who has something to learn. I'm surprised at your naivete.
You talk as if market makers are simply clerks, processing orders in the order in which they receive them. That is part of their job, of course; i.e., to provide an orderly market.
Another, equally large part of their job is to MAKE MONEY for themselves and their trading institution. They buy and sell for themselves, too! And, if they've finished filling orders for the day (all orders on the "book" have been completed), as it appears happened today at about 3:45pm, and small daytraders are looking to close out their day positions, here's what will happen: market makers will often just fulfill their legal obligation, which is 100 shares. When market makers stick to the strict letter of the law that way, near the close, the price can go down a full point or more on extremely light volume. And that is what happened at the close today.
You are way off base when you indicate some sort of "angry" reaction on my part. Far from it. I played this end of day game with my market maker friends: took profits, and then bought on the drop, right at the close.
Check it out a little further. You actually may learn something. |
