Illustrator :: Moving Anchor Point Using Spacebar While Drawing With Pen

While using the pen tool, moving the current anchor point by hold down the spacebar, is a great time-saver and I use it frequently. But I find it a little frustrating that, when closing a path, the "spacebar" feature does not work. Instead, the apposing direction point goes whacko. Is there an alternate keyboard shortcut to overcome it? Even though I "know" it won't work, I seem unable to resist holding the spacebar to fine-tune the last anchor point.