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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Jon K. who wrote (14635)2/25/1999 11:57:00 PM
From: Jay Fisk  Read Replies (1) of 122087
 
I'm flat on PDX, could go either way. I watched it go from 26 to 33 with an unusual number of fat blocks in the 2000-8000 range, as I think MD's trade PDX more than the daytraders, so that's not too unusual.

The tipoff was the microsize bid and ask, mondo spreads (up to 3/4 point, and the high number of buys above the ask. Looked like MM walking PDX up. Very few prints inside.

Could be an effect of "good news" or rumor traveling from PDX (or someone close) thru the MD grapevine. The buyers just seemed to buy at whatever price was asked, very little arbitration IMO.

I think the burst of short selling from 33 to 30 was a minor blip in someone's gameplan, too bad Tony wasn't here to drop a few 10K blocks to really make their day !
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