You bet they are playing a game. A lot of innstitutional activity takes its valuation on the last or closing trade for the day. Therefore, an institutional investor can take advantage of this to turn a profit on the last trade of the day by taking advantage of a client for whom he sold a positon earlier in the day at a higher sale price. The way to watch for this potential to take place is to carefully watch the last few minutes of regular session trading. If they open up or expand the difference between the bid and ask, that is the clue to watch out for a drop in AH.

The TSX practice of AH trading being allowed to count for closing price is a travesty that permits manipulation and should not be permitted or countenanced. The TSX is the only exchange in North America that permits this travesty!

Brian