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Technology Stocks : IMRS A Y2K FIRM SUCCESSFULLY REPOSITIONING ITSELF
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To: paul e thomas who wrote (24)1/7/1999 2:08:00 PM
From: paul e thomas  Read Replies (1) of 188
 
MM FIELD DAY AT EXPENSE INDIVIDUAL INVESTORS
It is pretty clear the MM are making money off of small investors today who are making momentum plays. The average trade today is only 400 shares after 122 trades.After taking the price down to a low of 27 5/8 the MM slowly took the price up to an ask of 28 3/4 with as much as a 1/2 spread between bid and ask.There was only 1 block size trade.They then again slowly worked the bid back down again to 27 5/8 with lots of people selling 100 shares at a time at successively lower bid prices.It has just reversed again with 7 trades accounting for only 4500 shares taking the bid up to 28.Three out of 4 trades are now made at the ask.
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