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Technology Stocks : Check Point Software (CHKP)

CHKP 179.51

+0.7%

Jan 30 9:30 AM EST

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To: Craig Kaltner who wrote (2558)	5/13/1998 11:48:00 AM
From: Rashley	Read Replies (1) of 7150

Buy 5,000 MKT DAY 05/13/98 at 10:37:00 ---- Bought Partial Fill 900 31 13/16 ---- 05/13/98 at 10:38:00 ---- Bought Partial Fill 100 31 7/8 ---- 05/13/98 at 10:38:00 ---- Bought Partial Fill 3,000 31 7/8 ---- 05/13/98 at 11:13:00 ---- Bought 1,000 32 1/16 -- 05/13/98 at 11:13:00 ---- Status: Closed Spec. Cond: None I think the day-traders refer to this as 'bait-and-switch'. From what little I know about it, it's a very common occurance and it was the reason be3hind the formation of the Small Order Execution System (SOES). With SOES, for trades of 1000 shares or less, the market maker is obligated to make the trade at the posted price for the entire amount. Someone who does day trading for a living would be able explain it. You might post a question over on a day trading thread. RA

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