For those following the back and forth between fact checking and Gary on twitter, I am again leaning towards FC being right that the index funds and closet indexers are not done buying.
Anyways, the drama / action never ends.
I've been thinking about it a lot over the weekend and think the index funds are actually mostly done with buying.
The reason is that the reported closing cross volume is 69M shares (paired volume was 60M a second before the close, which could be used instead for not a huge difference in outcome; I think
@saniflash posted a video of the closing cross earlier) and the AH volume was around 47M shares with many large orders (as
@Artful Dodger pointed out in a screenshot yesterday I believe).
That gives us 107-116M shares, indexers needed around 113M (pes Rob Mauer).
Sure, some of the volume is probably just noise, but I think most of it went to the index funds.
Also, if there are 10-20M more shares needed, given the AH price action and the way SP reacted to the closing cross demand, they will probably be purchased through the opening cross without moving the needle too much.
I'm afraid FC might let him/herself a bit loose this time imposing own wishes into thought process.
I'd love to see the price spike higher myself and hope I'm really wrong, but not counting on it.
Would be great to see someone report on the opening cross Monday, livestream would be best