Cityscape Financial (CTYS) Message Board

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Non-Tech : Cityscape Financial (CTYS)

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To: Zeev Hed who wrote (1380)	10/24/1997 6:37:00 PM
From: Rational	Read Replies (1) of 2544

Zeev: The two blocks were sales as far as I can infer from the tick prices and volumes (the numbers, not just a graph) that I have for the day. The price climbed fast to 2 3/4 in the morning and then declined to 2 19/32 when the 2.7 mil order was filled. The price then climbed above 2 19/32. This means that after noticing the 2 3/4 someone placed the sell order for 2.7 mil shares. The same is true of the 278,000 shares sell order. If these were buy orders, they would be filled at higher prices than the rest of the trades, but they were filled at lower prices than the rest. Thus, I have no doubt, these are sell orders. I would have bought had these not been sell orders. Further, if these were buy orders, the price would be easily $4. Sankar

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