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Technology Stocks : Concurrent Computer (CCUR)
CCUR 2,2550.0%Jan 9 9:30 AM EST
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To: Starowl who wrote (9968)7/2/1999 12:50:00 PM
From: jeffbas  Read Replies (4) of 21143
 
I will try one last time for those who evidently still do not get it.

That print after the close yesterday for 143,000 shares at 6 1/16 was not a purchase at that time by anyone. A client gave his broker a very large order to buy with a limit of 6 1/16 counting commissions.
The broker called his trading desk and told them to buy that amount
at 6 1/32, with the firm making 1/32.

Throughout the day the trading desk bought the stock many times from many different sellers at 6 1/32, WHICH YOU SAW WHEN THE TRADE OCCURRED as the buying broker took it into his inventory, and it left the seller. You also saw the many sellers' side of the trade at $6 as best as I can tell when all the seller had to sell was completed. At the end of the day the buying broker added up all he had bought and printed one ticket to his customer - who sure did not want 50 tickets.

The purchases were reported when they occurred at 6 1/32 and there is nothing unusual about these after 4 PM prints at all. It happens all the time in actively traded stocks. It also contributes to totally misleading volume figures on NASDAQ stocks as transactions are routinely reported 2-3 times - once when the buyer's trading desk matches with a seller's trading desk (at 6 1/32), second when the seller gets his print (at 6), and third when the buyer gets his print (6 1/16).
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