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To: Ian@SI who wrote (135296)7/2/1999 8:14:00 AM
From: GVTucker  Read Replies (2) | Respond to of 176387
 
Ian, RE: Given that the purchase happened at the close yesterday, they probably didn't spin all 4M shares yesterday. And yes a house like Goldman probably did hold the position overnight.

Aw gee.


Sarcasm noted.

Unfortunately, the rest of the post isn't all that accurate. Because the 4mm shares did indeed cross at 16:04 at 36 7/8. But the trader immediately crossed 1.5mm shares at 36 15/16. And 2 minutes later, 608,000 shares crossed at 37. Goldman was marketing the rest of the block in 10,0000 share increments at 37 and in 10,000 share increments at 37 1/8 or 37 the rest of the afternoon, and had little difficulty getting rid of the shares. The block was beautifully crossed at a pleasant profit, typical for a Goldman trader.

Aw gee.