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Technology Stocks : Lucent Technologies (LU)

LU 2.520

-1.4%

Nov 26 3:59 PM EST

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To: Elroy who wrote (21310)	6/29/2003 5:04:40 AM
From: Dale Baker	Read Replies (1) of 21876

The NYSE Web site has a link somewhere (I forget which one) where you can query the trading on a particular day. I did it once for a stock that dropped suddenly and received a detailed reply which explained the situation pretty well. I would guess in this case that the prints you saw below your ask were agreed to by floor traders standing in front of the specialist. One guy says he has 497K HPQ to sell; another traders says OK buy 497K at 20.30, the seller agrees and the specialist prints the transaction. But the price only went that low because the block was so big. That doesn't mean the specialist has to offer his inventory for sale at that price. If no other sellers are there at that moment, you won't get filled. The 2.3m share block is the same case, a one-off transaction. If you can access the trading tape, the 118K of shares at 20.31 may provide some grounds. It depends if there were small blocks being filled at 20.34 or better in that timespace. Size matters on the NYSE - small orders get shoved out of the way all the time.

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