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Technology Stocks : Precision Standard PCSN killer Q1
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To: Rashid Garuba who wrote (16)5/19/1998 10:56:00 PM
From: Kimberly Lee  Read Replies (1) of 68
 
Rashid,

Yes, NAIB was the lone inside offer at 4 1/4 at the close. In fact, he was the lone inside offer during most of the day. Right after Briefing mentioned PCSN, there was a flood of orders taking the offer at 3 3/4, and NAIB absorbed them all. Moreover, around 2:50, I preferenced him through SNET to buy 2500 shares at 3 3/4, he accepted my order within 6 seconds, showing no hesitation whatsoever. The ease and speed with which he accepted my order revealed one of two things: either he's very confident about shorting the stock or he actually had a huge order to unload.

But then something really baffles me. If I were NAIB and have a large order to sell, I certainly wouldn't mind running the stock up higher so I can sell at a more elevated price. The client would only be happier with a price improvement over the pre-negotiated price.

Kimberly
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