How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 496.92

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Nov 7 9:30 AM EST

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To: Sir Francis Drake who wrote (26591)	7/18/1999 11:47:00 PM
From: Bilow	Read Replies (1) of 74651

Hi Sir Francis Drake; Great series of posts on super buy or sell messages from thomsoninvest.net. I have a comment on how they are computing the percentage of trading due to institutions. I suspect that the reported numbers for institutional action is exaggerated by thomsoninvest. AMZN provides a good example. The top three market makers on the stock are ISLD, MASH, and NITE, as of the month of June, 1999. They provided 26, 8 and 5% of the total volume, for a total of 39% of volume. Link: nasdaqtrader.com To look up the percent of trades done by the various market makers, go to the NasdaqTrader.com web site and click on "Trading Data". Or use the following link: nasdaqtrader.com It is already agreed that MASH and NITE are more or less retail. (Or is it?) My observation on ISLD is that the majority of their trading is very much retail. In fact, the majority of it tends to be fast moving day traders, of which I am one. But the thomsoninvest web site lists the retail percentage as only 17% for AMZN: thomsoninvest.net I have two guesses. The first is that all ECNs are being added into the institutional numbers. The second is that there are a lot more shares being traded by the institutions, but are not reported to the Nasdaq, or are not included in the figures. Any ideas? -- Carl

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