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Strategies & Market Trends : DAYTRADING Fundamentals
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To: TraderAlan who wrote (3949)9/14/1999 8:04:00 PM
From: Mark Davis  Read Replies (2) of 18137
 
Here's something to get the room humming. I was watching today's IPO PPRO pretty closely, and the Island Book. In the middle of the fireworks (what else would you call the trading in IPO's these days?), some clowns post a stack of 10,000 share bids (like 5 deep) a bit out of the money.

Now they lasted a very short time (maybe 2 seconds) and looked like the work of some automated program, but what the heck is that all about? What's the point, and do they think anyone with an IQ higher than the price of the stock believes the bids are for real?

Theories welcome.
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