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Biotech / Medical : Neurogen (NRGN)
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To: scaram(o)uche who wrote (276)6/2/2000 2:54:00 PM
From: scaram(o)uche  Read Replies (2) of 523
 
Anyone who watches this issue will realize that it is actively "walked down" during certain periods of low interest (with little volume).

I watched them do it this time, from the start. I've caught part of the act in the past, but -- this time I caught the beginning too.

It appears to be a signal that originates with someone executing through instanet. They raise and lower the bid price rapidly. They then back off of the ask and someone executing through archipelago steps in and takes out the bid.

They usually wait for the close on bad days, and the damage thus far in this round is not pronounced. It will be interesting to watch the close.

Anyone have a clue why they do this?? Thanks!
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