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Technology Stocks : PairGain Technologies

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To: Tim Luke who wrote (29615)	3/30/1999 10:42:00 PM
From: Jay Mowery	Read Replies (1) of 36349

Tim, <<<<123600 between the spread...hard to say if it was a buy or sell... hoping it was a buy>>> There is room for speculation here on buy or sell on this trade. The one thing I noticed though is the bid was 9 5/8 and the ask was 13/16. The trade going off at 3/4 which is 1/8 above the bid and only 1/16 below the ask has me leaning towards the possibility of a buy! As it appears that on trades after the bell, generally the MM's will pay a lesser price if someone wants to sell and a lean towards the higher price if someone wants to buy. There is also a 3/16 spread at this point rather than the usual 1/16 that is the standard. This also tends to cause me to speculate that these types of trades are accumulation. The only variable that I see that could make this trade an exception, is the large size of the block.(123,600) You were seeing a similar pattern at the close with FORE! Both FORE and PAIR seem to be under close observation and they both appear to be being accumulated at the present time. FORE more than PAIR right now. However as you have mentioned, as FORE gets closer to a deal. I think we will see the same type of moves with PAIR that FORE is experiencing at present. Just some observations Tim and thanks for the information and insights you have been sharing! I appreciate it! Your buddy, Jay

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