Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Broken_Clock who wrote (45059)	5/19/1999 8:58:00 PM
From: Timelord	Read Replies (2) of 95453

RIG Blowoff According to my T & S data from Quote.com, the "blow-off" for RIG was started by one 823,100 share block trade at 15:33:00 at 23 3/4 from the nyse, over a full point below the previous 100 share trade in chgo at 24 7/8 (recorded at 15:32:55), and fully a point below the last nyse trade of 14,800 at 24 3/4 recorded at 15:32:05. This was identified as a rule 127 trade in the T & S data. You can clearly see its impact on the ICQ 5 min chart: beta.iqc.com It appears a whole bunch of stops were blown out as a result, and you can see what happened to the price, although it did recover some. I thought I had seen it all and understood market dynamics, but this is a new one on me. Can someone explain to me what the hell happened??? I thought the market specialists were supposed to maintain an orderly market??? This doesn't seem real orderly to me... TIA Alex EDIT - Well, here's the guilty party, still doesn't answer my question... biz.yahoo.com

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