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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (66612)	10/20/1999 11:16:00 AM
From: Bryan	Respond to of 90042

then who bought the 275k and 340k blocks?... Good question. IMO, when a large block trade goes thorough, it could be done below the bid or above the ask. Our streamers and tickers show the best market. I can't see what is sitting below the bid @ 14 13/16 for 1000 shrs. So if a seller comes along and needs to dump 300,000 shrs in one trade, the deal will be done in full at a price below the current small bid. The seller is happy because the deal is done in one block and the buyer is happy because he is getting filled below the current bid. Now imagine that the buyer of the 300k shares needs to dump this trade.....he knows he will move the market lower because the current bids are for much less than the amount he is now holding. This being the case, I doubt that the buyers at these levels are turning around and dumping the positions. What's the catch? There's no catch. The buyer of the 300k shrs is holding them for whatever reason. From what I have seen in 11 years in this business, there is always larger interest outside of the best BID/ASK. At times this interest matches up. That's what we are seeing, IMO....nothing new. bk