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Strategies & Market Trends : From the Trading Desk

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To: bazooka who wrote (4341)	3/19/1999 6:27:00 PM
From: IJReilly	Read Replies (2) of 4969

bazooka- There was an order imbalance in AOL on the close today-more orders to buy than to sell (in all probability expiration related). As a result, the final trade in AOL on the NYSE was put up at a price of 119.25, and the trade didn't print until 4:02. If you had a market on close order to sell, you would have sold at this price. This situation is not that unusual for an expiration Friday. The specialist had to move the price up a buck or so in order to fill the large buy order imbalance (I think it was over a million shares). Sorry to butt in here, but Steve has hopefully gone home for the weekend, so I thought I'd give it a shot. Hope this helps IJ

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