Bill; I caught on the NEWS that there were a lot of sell at close
orders related to options today.
Now the specialist had time to work most of these orders into his
pool and then make the transaction at the close in most cases
with out causing the market to go unstable.
So after the close I started checking my Nifty Fifty to see which
ones had big volume spikes at or close to the close.
Yhoo quote server went down before I could finish.
The biggest ones that were played option related,
Were GE, KO, XON, MRK, IBM, T , DD, HWP, BEL, & NB.
Watch them Monday , I have no idea of the effect as I never
looked at this before. I need to look at 25 more when Yahoo gets
going again.
I don't understand the strategy they are using with this sell at
close thing..and how it's related to options, but it happened
last month too and I just didn't chart them to see which ones
were being played that way. I'll have to sleep on it, & or watch
and see what they do Monday and maybe that will give me an answer.
Any way help me out and watch that bunch above Monday and lets
figure out how the sell on close effects them.
More latter.
Lets stay within the Nifty Fifty..( NF )
Jim
BTW someone not long ago ( I can't remember who ) played down the FUNDs being able to move these stocks and said Fund ownership was around 10%..he was fullofshit..So far the ( NF )ones I'v checked run
on an average over 50% of out standing shares being owned by funds
and institutions. ( more than that if you use the Float )
MSFT is more liquid than GE ! almost 2 to 1,
Jim |
