Check Point Software (CHKP) Message Board

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Technology Stocks : Check Point Software (CHKP)

CHKP 192.09

-2.7%

Nov 17 3:59 PM EST

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To: Chris Vu who wrote (2195)	4/29/1998 10:08:00 PM
From: Dave O.	Read Replies (3) of 7150

Re: Yahoo post on "manipulation". I'm not sure why the Yahoo poster feels it's manipulation. If GSCO has a large institutional client who wants to sell, then he sells. Big clients often want out of a stock and don't always care about what price they exit. In this case it seems apparent someone wants out bad and GSCO is not hiding anything. In addition if you check the Nasdaqtrader.com site you'll see GSCO trades about 45% of CHKPF. Thus, it's obvious they will be pretty active each and every day. To my knowledge there's nothing illegal about him stepping in front of the best ask. For example, today GSCO sold for what seemed like forever at 30 5/8. Trade after trade at that price. Then he moved to 30 7/8. Late in the day he came back to 30 5/8 and sold more. He likely also took out the bids at 30 1/2 and then 30 3/8 became best bid. Maybe he sold to those guys too. Again, if he has shares to sell for a client he'll sell until he's done. I saw GSCO do a similar thing with PLAT a month or so ago. After he was done selling he became a buyer just like the other MM's. Dave

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