THNS - Technest Holdings (Prev. FNTN) Message Board

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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN)

THNS 0.00

Jun 7 5:00 PM EST

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To: Bill Fortune III who wrote (3162)	8/7/1998 9:31:00 PM
From: Joe Senesac	Read Replies (1) of 15313

As I understand it, these trades are either "Form T" transactions which are custom or late trades executed by market makers before or after hours, or are trades on a different market with different hours. SelectNet is the most likely location for these transactions, with FNTN being an OTC stock. SelectNet is the Nasdaq automated system that is for dealers and mms only (supposedly) so that they can trade shares without upsetting price or paying commissions. The major reasons for trades on SelectNet, as I understand them, are for institutional buyers or for market makers who need to settle before or after normal hours (and feel that they may have a benefit in doing so). These transactions on SelectNet and Instinet are visible on some quote services (Signal and Quote.com have been where I see them). Instinet and the "Island" are the other "third markets" that I know of. The primary market would be the initial sale of the security, Nasdaq and NYSE would be examples of "secondary markets" to primary sales. The reason I brought up these after hours trades is that often with FNTN (and other stocks) it seems to be a good indicator of interest prior to the next trading day. From what I have seen this is more often the case with up trading than down trading - trades seen after the bell at the high or higher than the days high are indicative of a possibility of a lot of buying pressure or a gap up the next trading day. With selling after the bell, often times it is just someone who wants to get out of the stock and finishes their exit - but often doesn't seem to continue the next trading day. Thus, I believe this bodes well for Monday. If my understanding of any of these markets is inaccurate (and other thread lurkers have better understanding or can correct) please do so!

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