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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 683.03-0.1%4:00 PM EST

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To: Haim R. Branisteanu who wrote (55917)7/2/2000 1:27:49 PM
From: Gersh Avery   of 99985
 
When I look at time and sales I see (starting at 16:09)

Out of sequence sales:
Chicago exchange 83 sales for 73800 shares.
Cinc. exchange 63 sales 41500 shares
nasd 16 sales 9000 shares
NYSE 1 sale 132000 shares

It seems to me that these were market buy orders that were held back to gouge the best price. Or stops that were taken out after trading was supposed to be done. It would not surprize me that many of these will be reversed later.

The remaining 154 trades were for a total of 130800 shares.

I screened these trades for prices of 53 only. There were three trades listed for higher than that.

With the exception of the NYSE listed trade, all of these were small block trades.

There is a single trade listed on the nasd exchange at 17:59 for 1180200 shares at 52 15/16.
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