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Technology Stocks : Apple Inc.
AAPL 271.01-0.3%Jan 2 9:30 AM EST
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To: Don Green who wrote (12752)5/5/1998 9:27:00 PM
From: Sam Scrutchins  Read Replies (1) of 213177
 
Not really that is a MM trick, the last trade was 100 shares throw out at a lower price just to keep you thinking.

Don,

The last price change was an uptick from 9 21/32 to 9 11/16. The MM's apparently did not want the stock to close at 32nd's. Also, I think some number of investors bailed after the stock passed its old high. These were investors who were probably either short-term intraday types or some whose objectives were met by the old 52-week high breakthrough. I don't think it was shorts who drove it down. FTMP, the MM's seemed to be sitting on the sidelines today. They appeared to hold the stock between 29 1/4 and 29 5/16 for a good while before the final rally, but other than that, there did not appear to be a lot of trading before the bid/ask sizes adjusted.

Sam
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