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Technology Stocks : AWARE
AWRE 2.160+1.9%Dec 18 3:59 PM EST
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To: KHS who wrote (2034)3/25/2001 9:09:18 PM
From: Peace  Read Replies (2) of 2404
 
Hi Scrapps/Keith,

I wouldnt make much of that article. Intel has obviously been working with Aware as demonstrated by the contract revenues Aware has been earning. The only bad thing I see from this article may be an implication that Intel does not have its DSL strategy together which may imply delays in their new products.

Well, I told you the blocks going across on Friday. The big block of 250K after the bell was obviously a big trade that a MM had all day and was filling quietly. Given the price and volume throughout the day it looked like a buy. Keith, there was nothing abnormal about that trade. If I am a fund manager and I want to buy (or sell) a large block, I tell my institutional broker who then will have his MM execute the trade. Now the MM has to go out and accumulate that many shares to fill the order. Obviously if he came out and continuously showed a huge bid that would drive the price up very high and his client will end up paying an inflated price caused by the temporary imbalance of demand/supply for the buy. So, the MM quietly keeps picking up shares over a period of time which may be over the entire trading day and will then fill the entire order as a large single trade using an average price and an agreed upon markup. A lot of time these trades are posted after the bell as the MM has to figure out his average cost of acquiring the shares before he can put a price on the block trades. Most large trading firms have a separate block trading desk which specializes in this. Depending on the size of the trade sometimes, the entire position will be acquired (or liquidated) over several trading days and will be done thru several blocks.

Peace
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