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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: steve goldman who wrote (1008)11/19/1997 10:12:00 PM
From: Esteban  Read Replies (1) of 12617
 
Steve,

Maybe with your expertise you can help me understand the dynamics of the trading action on BOSCF that I noticed today. I'm not interested in buying or selling the stock as much as understanding what could be driving the strange action I observed.

BOSCF has spent the last 2 days with no movement in the inside market at 5 3/8 by 5 7/16. The two MMs on the bid are RYCE and CTRL (not sure CTRL is the right symbol) and they have been there for two days. Three days ago the price rebounded from 4 5/8 to 5 5/8 on low volume of around 30,000 shares and then settled into the above mentioned range.

Today the volume increased to more than twice the norm of late and there were 238,800 shares traded on BOSCF. Only 16,500 shares and FOUR of SIXTY trades were at the ask of 5 7/16. All the rest (56 and 222,300 shares) were at the bid of 5 3/8.

Would you please comment about the huge imbalance between buy and sell orders and why the price didn't move down as a result. Does this indicate weakness since the selling pressure is enormous, or strength because the price refuses to budge despite the onslaught? What is the most likely eventual outcome of this battle?

This seems like an exagerated situation that should underline SOMETHING going on that might be of use to understanding the markets we trade in from a daytrading perspective. I would appreciate any light you can shed on this matter.

Esteban

PS.. I don't own the stock.

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