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Technology Stocks : Orbital Engine (OE)
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To: PIERRE HANDL who wrote (1621)6/1/1998 6:39:00 PM
From: Michael Bakunin  Read Replies (1) of 4908
 
Here's the tape for the 16:00-16:30 (EDT) trades:
06/01 16:31:55 P 500 4 1s X 4.838 350414
06/01 16:32:10 P 500 4 1s X 4.830 350432
06/01 16:32:50 P 500 4 11s 4.828 350474
06/01 16:33:03 P 500 4 11s 4.827 350487
06/01 16:33:12 P 500 4 5/8 4.824 350500
06/01 16:33:24 P 500 4 5/8 4.822 350512
06/01 16:33:36 P 500 4 9s 4.820 350521
06/01 16:33:48 P 500 4 9s 4.817 350537
06/01 16:39:23 P 500 4 1s CANC 350414 350957
06/01 16:40:02 P 500 4 1s CANC 350432 350992

It looks to me like the 4 1/16 trades were made in error; they're
replaced seconds later by trades at 4 11/16, then cancelled ten
minutes later. Depending on whether these are double-counted (they
sure look it), someone sold 1500 shares, and the bid dropped 2/16.

By comparison, this is the last half-hour on the NYSE:
OE X VOLUME PRICE SFX/COND VWAP PG= 0
06/01 15:36:36 M 200 4 13s 4.850 310034
06/01 15:38:30 P 1600 4 13s 4.848 312613
06/01 15:39:14 N 2000 4 13s 4.847 313527

I can't find any news either, so in the absence of news or market
panic OE should open near the NY close.

mb

PS -- I find looking at the "help wanted" part of OE's web site
tremendously reassuring. I assume, too hopefully perhaps, that they
need more engineers because they're soon to do more engineering.
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