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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (1783)	11/24/1997 5:11:00 PM
From: shasta23	Read Replies (1) of 4969

Hi Steve! Observed today the action in GECM and SOCR. What i found interesting was that i can look at the tickchart for GECM on Internet trader and get the last trade there at 14 5/16 on 15;59 but on various end of day quotes i get a closing price of 13 5/8 with a bid of 13 1/2 and an ask of 14. For Socr it shows the last tick at 15:59 for 9 7/8(it was up on that tick) but again closing price 9 1/4 with a bid of 9 1/4 and ask 9 5/16. So what happened in this last minute? Why the discrepancy? I know that you don't follow the "manipulation by MM"-theory but what can cause such a drastic swing that's bigger than anything else during the day, something that's not showing up on the tickchart? This smells to me like someone is manipulating the price. Or could it be that they received a large sell order in the last minute...?!?!I guess this falls in the capital of tape reading and i'm just baffled without knowing what to think of it! ANy explanation? Stefan

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