how low the sp, page-37

One gripe I do have, is the conduct of these closing auctions.

Today, 2 million shares were traded after the bell---about 15% of the day's total --- and snapped the price down from $37.29 down to $37.11.

The whole day is an auction, conducted in the open, with the bid and ask spreads clearly visible.

But for 10 minutes after the bell, that transparency vanishes.... and mysterious participants enter a closed chamber and emerge with a fait accompli.

The last visible price should be the real last price. We should not be presented with these little suprises when it is way too late to opt out.

Rant over. :)