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Technology Stocks : Stock Swap
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To: Papillon who wrote (17043)3/15/2000 1:09:00 PM
From: Patrick Slevin   of 17305
 
That could be any of a various number of reasons, I don't trade Nasdaq any longer.

And, I don't know anything about the patterns in that stock. I could only guess.

One guess could be that they are working a block; I would imagine that it's not easy to sell a large block of certain issues, it's may not be as liquid as a Cisco or Intel for example, and the price is adjusted to be able to handle the block. A MM may be on the box (bid or offer) for perhaps 2,000 shares. So if you want to sell them (or buy from them) a block of 60,000 shares this might have to create an adjustment (in normal markets) to find where a market can be reasonably created for such size. Once the market absorbs the trade it gravitates back to where it "should" be.

This would be my most reasonable guess.
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Damn INAP hit 79; missed it again. At least the guys at the desk don't think I'm crazy any longer.
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