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stephQB

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stephQB

Re: None

Friday, 08/19/2005 4:44:51 PM

Friday, August 19, 2005 4:44:51 PM

Post# of 35337
Manipulation? A curious phenomenon, to me at least:

TOVC's closing price should be a multiple of 5 cents (0 or 5), statistically, only 20% of the time.

Of the 159 trading days since the first of the year it has closed at a multiple of 5 cents 82% of the time (130 days).

It has also seemed to me (no statistics) that very often it closes with an upward move toward the end of the day. This suggests to me the possibility of MM's systematically biasing the closing price up to a multiple of 5 cents.

How else to explain it?


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