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To: John O'Neill who wrote (90719)	10/20/1999 11:48:00 PM
From: John O'Neill	Respond to of 186894

Nightly biz review has IBM close at 112 3/8.. moneyline at 107.....surely it can't be both..it's hard to imagine someone selling ~400,000 shares in the last minute of market, before earnings were "out" driving price to 108 as shown on quote com....tomorrow, cnbc will show it down ~12 (if it opens at 100)... seems to me like some smoke and mirrors here to obscure the actual closing prices...are we baffling them with bullshit now....surely no brilliance here to dazzle em with

To: John O'Neill who wrote (90719)	10/21/1999 1:13:00 AM
From: Harry Landsiedel	Read Replies (1) \| Respond to of 186894

John O'Neill. Re: "....does anyone know how the close on NYSE affiliates works." For what it's worth I've noticed that there are often significant changes in a stock price between 1:00pm and 1:30pm, when the final prices are posted. I have never seen as big a drop as IBM took today. It was running at 112 up 4+ on the day around 1PM. Later this PM I noticed it dropped to 107, down 1/8 on the day. Hope this helps. I don't know if this represented a flood of sell orders, but the quote shows a high of 113 1/16 at 15:58. You can see it graphically at: thomsoninvest.net Go figure. HL