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Strategies & Market Trends : QDEK Quiz for all the daytrader geniuses
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To: dwight vickers who wrote (2)11/22/1996 6:51:00 AM
From: bill crosby   of 12
 
Dwight-
What I believe happened was this. The market had been quiet most of
the day and at the time of the transaction QDEK was 4 7/8 - 4 15/16.
Someone (a MM) was asked to bid on a block of stock and they took it into
position. The minute that block printed Merrill went to a 4 7/8 bid.
The stock immediately started trading at 5 then jumped to 5 1/8 with
Merrill now on the offer. He sat there and sold 200,00 to 300,000 and
then let the natural market action take it higher. Merrill for the
most part was always on the offer. I watched the entire afternoon on
a Nasdaq Level II and Merrill was the largest seller by far.
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