I have a tablet at home and always watch the last 5 minutes of the market, if I can. I happened to see the whole thing- right from 13.28 to the close. Looked like computer trading- so fast. And I agree, the amount traded was about as you say. We have a wonderful open here- but the dow itself is +130pts.
I made a note at 3:51 today that volume was 1,354,000 shares and px then was $13.33. It took 3 minutes for the next 100K to trade and then every minute thereafter to the close another 100K or more shares traded. It took a few minutes for traction to develop on price because with 5 minutes to close px was still $13.31. But the next minute px advanced to $13.41and then continued to $13.50.
Anyone else feel out of the loop that we could have this kind of trading frenzy in ten minutes totally
unexplained, either by news, speculation or rumor of news, or anything from MBIA?