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Jim Sinclair on MOC orders

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A Definition Of Market On Close Orders

December 23, 2012, at 10:45 am
by Jim Sinclair in the category General Editorial | Print This Post | Email This Post

My Dear Friends,

A part of being of service to you is that I do not talk down to you. Rather, I ask you to define words from an investment/financial dictionary and provide the same on this web site.

A key part of the high volume price moving near and at closing transactions Friday, towards month end, is the use of the MOC order. Those seeking to get the attention of investors by disorder in markets resulting in fear or greed to benefit their own positions utilize this kind of order to shock markets. Nobody in their right mind would ever use MOC orders if they wished to liquidate or accumulate a situation in an orderly manner.

Almost to an event there has been no fundamental reason for the movements MOC orders create in the common shares of the company. MOC orders are used to paint charts religiously. MOC orders have been the most popular way of trying to hurt investors, thwart builders of companies and profit from destructive actions. The sources of these MOC transactions are world class negacrats and those that destroy more for pleasure of causing pain than even profit. The MOC order is a common tool of the new normal culture of destruction, so popular amongst the sociopaths in finance.

The only intent of a MOC order is to destabilize a market plus or minus. The specialist on the NYSE or NASDAQ knows exactly what an MOC order will do destabilization wise, yet takes profits and sick pleasure in a disorderly close up or down.

The MOC order is a paper trail directly to the who of manipulation. The MOC order has no rational business purpose. The specialist executing the MOC order will always deny responsibility on the standard war crimes claim of I was only following orders. Someday that lame excuse will be tested in civil action.

I believe the responsibility for constant forays of disorder in the markets of gold shares, especially juniors and junior producers, is on the shoulders of the specialist on the legal basis of "knew or should have known" the impact of his/her actions. The more the specialist cooperates with a singular MOC order giver in a singular situation compared to the specialist position even intraday, the greater the potential is that in civil litigation brought by a company on behalf of its stockholders, the specialist firm because of there motive, will not prevail in court.

Each time the specialist executes a MOC, the who is revealed in a paper trail, and the actual doer of the deed, the specialist, knows exactly what destabilization he/she is about unleash. Now it is joke to brag about at the bar after the code will their scummy friends.

The entity with the most exposure utilizing MOC orders for manipulation is the SPECIALIST. In my youth I specialized in 35 companies making markets. I do not think but rather know about what I speak.

I quit making markets not because of lack of profit, but lack of respect for what I was doing because all specialists spend their days being professional liars. The specialist KNOWS exactly what he is doing and for whom, with the goal of accomplishment price wise totally obvious to him.

Respectfully,
Jim

Definition of ‘Market On Close – MOC’

A non-limit (market) order executed as close to the end of the market day as possible. All market on close (MOC) orders must be submitted by 3:45pm on the NYSE and by 3:50pm EST on the Nasdaq. Neither exchange allows for the modification or cancellation of MOC orders after those times.

Also known as an "at-the-close order."

Investopedia explains ‘Market On Close – MOC’

This is an order entered sometime during the day that grants discretionary power to the trader, so that, as near as possible to the end of the trading day, a market order will be executed. MOC orders are sometimes used as a limit order qualifier, making the limit order a MOC order if the limit wasn’t reached earlier in the day. In addition, MOC orders allow investors to buy or sell a stock that might move drastically before the next morning’s open – perhaps as the result of a known after-hours earnings announcement or news story. On the negative side, some traders believe that MOC orders, by virtue of the buying/selling pressure they create, cost traders a tick or two.

More…

https://www.investopedia.com/terms/m/marketonclose.asp#ixzz2Ft9XPiRY

Friday’s MOC Trades In Gold Shares

December 22, 2012, at 4:59 pm
by Jim Sinclair in the category General Editorial | Print This Post | Email This Post

Jim,

Although you have said the technicals are just painted charts, I was heartened by yesterday’s action as most gold stocks were up on heavy volume except TRX, which did volume and didn’t make a new low. It looks like a bottom to me.

I guess the perception as we go over the cliff is that the Fed will do more, although I can’t imagine what more. Am I too optimistic that my pain is over?

Thanks for your help,
CIGA Jack

Dear Jack,

I will speak to what I know takes place.

Friday was a combination of multiple factors, all executed on or near the close. MOC is an order that is to be executed at the market at the close.

A fund manager is usually paid not by the closed trades alone, but rather by the inventory value at any closing period. A closing period is determined by the fund prospectus. There are various causes for the mixed action on high volume at the close of the NYSE and NASDAQ.

1. Index funds balance positions as they are held by percentages. Some have too much of a share. Some have too little. So there are funds buying and selling on a common closing day, all MOC.
2. A fund wanting to mark a stock down and show a break even or profit in the position sells 1.5 million MOC on their last trading day for the year. Sure it is illegal and manipulation, but regulators representing Washington that is owned by Wall Street do not care.
3. When you have options maturing on a specific day there are trades in a stock by the writers and holder offset their obligation or positions which increases trading volume.
4. The presence of a MOC order is known by the specialist on the floor at least 15 minutes before the close, and can easily be taken advantage of by those who laugh at regulations, the financial community.

There were many MOC trades on gold shares yesterday. Many more were down ticks, not up ticks. MUX was up but that might have been traders bearish on the recent MUX rights offering and option positions closed. Please note $4.12 is some sort of a magic number meaning what, I am not sure. Not TA.

This is the world we live in as the "new normal wild West" in finance. It has absolutely nothing to do with the fundamentals in any company that traded heavy at the close yesterday. It has all to do with the demonic giants that are playing in your sand box.

Regards,
Jim