Newbie question about closing time

[honey85]

Hi All,

I have noticed many times especially in bank shares about this trend and I hope someone could explain to me. For instance like today, if you search for daily chart of any of our big 4 banks today, you could see a significant jump in share price towards the end. This has happened quite frequently and I do not know why. And usually after this thing happens, the share price will fall on the next day which I hope won't happen tomorrow: Hope someone can enlighten me.

Thanks,
Honey85

 

[honey85]

Attached

 

[Naked shorts]

Well since short selling on financials is banned, it cant be covering of shorts.

It could possibly be Market Makers closing out their positions (I doubt it).

It could also be big money doing a some kind of market sweep.
think of it like this:
> Big money buys 1m worth of bank stock
> This in turn pushes up SPI futures (which they would already have money in) and make a profit of 5m because the futures moved so much.

Since i don't trade equities (anymore), and I'm not actively a SPI trader, I could be wrong.


This almost sounds like a case for........The PROPEX boys! :