Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: Peter V who wrote (14678)	3/17/1998 4:32:00 PM
From: Marconi	Read Replies (1) of 18263

Hello Peter V. and all: From I-trade: Zitel 3-16-98, end of day trading patterns last two minutes ~35 escalating trades 15-7/8 up to 16-1/8 prior 13 minutes ~ 35 escalating trades 15-13/16 up to 15-7/8 prior 30 minutes ~35 escalating trades 15-5/8 up to 15-13/16 My take: someone is testing the waters to see how a series of small trades influence stock price. The escalating trading pattern in the last 15 minutes, particularly the last 2 minutes of trading has been done before--with an effect on options. Perhaps someone would like ZITL to close above 16 today for an overnight number. From the 10 a.m. to noon EST sag on a 273,500 share volume, would imply a trading volume of around 900K shares. To overwhelm the effects of activity like this, I would estimate it would take a daily volume of about double that, or a two million share day without new hype or rumor to wash out the effects of small volume price swinging like this. I did not look closely, but my impression is that the near options outstanding did not shift in their quantity much today--prices certainly fluctuated enough for someone to cleanup on trading the sag today. Best regards, mdr

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