TouchStone S/W (TSSW) Message Board

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Technology Stocks : TouchStone S/W (TSSW)

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To: Bayclipper who wrote (3383)	2/2/2004 12:50:20 PM
From: David Alan Cook	Read Replies (1) of 3627

Gordon, All of today's trades have taken place between .35 and .43. The last trade was for 10,000 shares at .43. I almost never trade between the bid and ask for small cap stocks like TSSW. This provides information to the MM that there is demand or supply for a stock which they use to adjust their bid / ask spread. The large spread you see today - .25 and .50 is probably the result of your order between the two. I usually place smaller orders at the ask that equal the total demand showing by the MMs. If they do not adjust their ask, I then place another order for this amount. My take is that there is some resistance / supply of stock at the .50 range. Once this is taken, I believe we will move to the .88 - $1.00 range. As you look at the MM Board, you will notice that the amount of stock for sale at the .50 level consists of one MM offering 5000 shares with the other MMs offering 2500 shares. If the stock price continues to move up, I expect the number of shares offered at the ask to decline from 2500 to 1000 and then to 500. This is a similar pattern that TVIN had below and above $1.00 Dave

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