In order to see the close, I take my chart off of extended hours and just show regular hours. I clearly saw a flag with .3750 that stayed there for the remainder of the day yesterday.Originally Posted by mogami
They painted the tape to show .3999, but that was not the close. In fact, that trade was time stamped at 3:58 pm, not 4pm.
Good sign that it wont go any higher than that. The MM's tend to ignore the sell side and put in bids below large sell orders.
They tend to scoop up any large buys however, at any price.
But why would they want to paint the tape higher? My logic (which is probably wrong) says that it would show a higher close price that would bring in new money to invest long and make it harder for the shorts to cover low.
It seems to me that painting the tape high would make it harder for the MMs to keep the SP low.
Good question which I do not know the answer to. Perhaps to use it to slow momentum? Maybe they knew the auto sales stuff was coming out. I have no clue.
http://messages.finance.yahoo.com/St...7&tof=35&off=1
Aha....here you go...
http://www.bloomberg.com/apps/news?...id=a8d4mh.dVP_U
Basically, there was a major screw-up on the close yesterday- the aforementioned article discussed the NASDAQ, but it seems to extend everywhere. Thus, the closing prints are incorrect on all data feeds this morning street-wide. For instance, Jabil Circuits (JBL) warned on its earnings after the close; all data feeds that I've seen (from Bloomberg terminals on down) show a 'last price' of 3.81 yet the true close was 4.42 on the NYSE. So, if it trades at, say, 4.01 just after the open, it is not 20 cents higher from the 4PM close...it is 40 cents lower. Furthermore, the charts reflect this chaos as well with data extending past 5PM ET.
Since yesterday's close, the NASDAQ has changed its data to reflect the 4PM close (but not exactly...it is still a few cents off on most stocks); the NYSE has not. If you want the 4PM close, you can go to your watch list (for Sterling users) and simply enter the symbol followed by a 'dot N' (.N). However, I don't know whether to use the 4PM or the 5PM price because everybody's screens (on the Sterling platform specifically, but likely all platforms) will reflect the 5PM prices. Be aware, however, that it will be very very confusing from the get-go this morning for the entire day trading community for those day traders who rely on closing prices (i.e. the 'unchanged' level) to do trades. My two biggest trades this week utilized the previous day's closing data as a simple for instance so for me anyway, it is a real issue.
You see...I knew something was wrong!
If your going to make a buy today, I would do it right now.
Sellings for wimps. You a wimp boy?DYODD.
Good morning all - from my igloo here in central Colorado - I will be carving icicles off the house throughout the day for my beer as I sit at home on a snow day watching SIRI..... and some TV....
Looking like .37 is the floor? I see brandon and relmor are posting...... The major market indices are all down -
I will not try to predict anything significant today - too many wildcards.... although I think we'll start moving up and not slide below .37....... not sure if today's the day we bust .40 down ......
Either way - I'll tell most of you this - I have a .52 sell order in on the 15% block I hold that I got at .32 cents.... figuring .20 cents is a good chunk..... just in case we see a short panic and spike upwards.... which I will use to re enter if we retrace ......
Relmor your think that .37 is now the support and that's why your suggesting to buy at this price?
