Anavex Life Sciences Corp (AVXL)

[jimmy667]

'Market on Close'=Large Trade at Bell. A 'MOC' or 'Market on Close Order' happens almost every day. It is a VWAP of all aggregated individual 'MOC' orders system wide so not only is it not likely one order from one trader but likely not even from one brokerage. There is a button for a MOC order on the 'Think or Swim Platform' and most upgraded platforms, it must be placed 15 minutes before the bell then one gets one's buy or sell at the VWAP price at the bell.

It was unusually large today so might have contained several or one large order as part of the amalgamation. But those placing the orders would not have likely known how it would finish because as I stated they must be placed as 'MOC' at least 15 minutes before the bell.

A 'MOC' order might be good for a large order where the trader did not want to make a splash with a large buy or sell, or inflow/outflow from a fund such as $RUT. One would surmise that these are mostly placed by professional/experienced traders.

So be careful not to read much into a large order at the instant of the closing bell, it happens every day and there is just no way to tell what that order really consists of.

LONG AVXL.