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Technology Stocks : PairGain Technologies
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To: margin_man who wrote (28105)1/21/1999 4:44:00 PM
From: BWAC  Read Replies (1) of 36349
 
Margin,

I watched and counted all day, well actually I lost count somewhere along the way. But, consistently all day long, larger trades of 10,000 shares went off 1/16 ABOVE the ask price at the time. There seemed to be one about every 15 to 30 minutes. Maybe 15 or 20 in total. More frequently in the last hour. (Specifically between 3:40 to 3:43 I saw 6 individual trades of 10,000 shares each go off at 10 11/16 and 10 3/4. The bid/ask at this time was 9/16 by 5/8. And the intermingled trades between these 6 were small and at the respective bid/ask price.)

I think the Market Maker worked this one hard today. Trades at the ask way outpaced those at the bid all day long. Yet the price moved very little. It was a strange day.

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