Hi Paul, on AOL trading after close.... sorta O.T.
Okay, what's up with the AOL trading that happens
just as the market closes? Is this still the Specialist on the
NYSE allowing fills of remaining orders, is there a time limit,
and how is this a 'fair' market?
In hindsight, can't say today's market action in AOL surprised me: it acted very similar to the trading right before the last split occurred. Kind of a large shake-out which seems to be out-of-sink with the market conditions. I mean, surely someone had been leaked the good earnings news, yet today we still had a sell-off? I'm starting to get the 'pattern' that selling the day *before* or early the day of earnings/splits, etc. is the way to go, wait for the sell off, buy back and (uggghhh) hold through earnings.
On the last split announcement, I did trade it as above. Today,
not wanting to go into margin for a hold through earnings (after buying other stocks in the meantime), I passed on the buy back in and hold. Little bit of sour grapes on my part. It's just....
I've seen this too many times now with AOL, which is otherwise
a stellar stock. But it sure looks manipulated IMO, like they're lowering the price to pick up cheap shares on those who won't hold
through earnings. That is the only way to explain it. I guess if
they're free to do this, we're free to try and take advantage of it.
Just my personal opinions, but it sure seems strange. I mean, look
at the price dive running into close and then the earnings report....
strange.
Waldeen |
