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The Walt Disney Company Message Board

  • dispixappl dispixappl Jun 27, 2008 6:47 PM Flag

    huge sell blocks of Dis at very end of trading today!

    I have never seen as many 250k to 300k blocks going off like water at the last 10 minutes of trading as there were today! Disney stock plumetted from 31.85 to 31.5 in less than 8 minutes!

    If they were involuntary market order margin calls going off that could be bullish.....BUT, if they were voluntary sales to get out before Monday am then it is very bearish!

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    • There's a simple explanation for this (the same thing happened to lots of stocks): The Russell indexes were rebalanced today. Those indexes are market-cap-weighted, and are rebalanced only once a year. Any stock whose market cap is less today than it was one year ago today was sold in huge quantities during the last half-hour of trading, because the majority of equity-based mutual funds are legally obligated (due to their self-definition) to base their weightings upon the indexes. Thus, many mutual funds had no choice but to sell a proportion of all stocks that have lower market caps than they did a year ago.

 
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