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Strategies & Market Trends : From the Trading Desk
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To: steve goldman who wrote (2818)4/5/1998 3:04:00 PM
From: LTK007  Read Replies (1) of 4969
 
Thanks,Steve,and it seems that we need to see what the price action is subsequent to this event.
But of note,to be factored in this stocks TA was improving vastly
for about two weeks before this,and it was basing at 5&3/4 in accumulation,and then at end day two days before this 1plus million
block,the stock price dove and because I have seen this before I felt
that the MMs were loading up on stop-sells.And until this block went through the stock price was behaving against both TA and much good news coming in.
The mystery is the seller had amble opportunity to sell off during
the stock's run from 4 & 1/2 to 6 & 5/8---so the seller would have to be truly desperate for some personal reason to sell at 5&1/8(this the price at which 1.25million shares changed hands,and it was a single trade)and then mere moments after the stock went to 5&3/4 in roughly
6 ticks and 300 thousand shares traded--all this in less than 15minutes! Thanks,max90
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