RE:RE:RE:The Close?The GDXJ reduced their positions in most of their holdings to make room for 2 new positions which were about 7.5% of their overall assets...so to make room they sell existing holdings to make room. They publish this info a week before, so last Friday....you can then take that info and roughly calculate how much may be for sale...which by my math meant about 2mil shares....some thought as high as 3mil....all these shares trade in the MOCs....the catch is that traders knowing this can put in offsetting orders...if more buy orders come in then the sells it turns to a buy imbalance...which is what happened here....so GDXJ still sold some tgz but others bought all of it and more....great sign of strength!
Piperdown wrote: TheBigSmoke wrote: There was supposed to be a sell imbalance on the MOCs of 2-3mil shares but came out as a buy imbalance of over 1.1mil.....bots went crazy and drove the stock down to .74 in the last few seconds....stock was then frozen on the close cause closing price would pop the stock more than 10%....so exchange freezes the stock to let traders enter offsetting orders....closing print then goes up at 4:10....went from .74 up to close at .80. Look up LSG and TGX....exact same thing happened.
All this happened as a result of the Q2 index rebalances....this is why the stock traded like garbage this week...should see better action next week....the fact that the MOC came out as a buy shows that there is a lot of big buyers still out there, even at these levels....great sign! The big drop before the close was just mkt mechanics and should not raise concern in this situation.
Good luck all!
Piperdown wrote:
What number do you guy s show as the close. I have $.80 on my TD brokerage.
Also look at TMM and DGC. They got hit to the down side of things in the balancing of gold index. Does that mean that the index took more of TGZ in the balancing and sold TMM and DGC and reduced their weighting to those 2 stocks as an example.