Just a matter of interest this, but I'd welcome any comments. Although the closing auction is supposed to end at 16:10, it tends to stretch out to 16:11, or even much later, for reasons which are beyond me. However, there is always much jockeying for position between bids and offers just before the close. Some participants seem to know exactly to the second when this close will be, even though it remains a mystery to most of us. Lets call these insiders. Today, one of these insiders managed to close FLC at 26.5 cents right at the last millisecond, after trading at 25 cents just before the 16:00 close. It's not the first time this has occurred with FLC and I wonder if it's an accumulator trying to pick up a large parcel at the close, or a manipulator. Today it seems to have been the former.
I'd be interested to know if any of you can explain how anyone could know the exact auction closing time right down to the millisecond when it varies from day to day. Obviously not your average retail investor/trader.
Cheers,
vango
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