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Technology Stocks : juno.com (JWEB)----IPO -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (248)	12/21/1999 7:54:00 AM
From: Rajiv	Respond to of 510

Peter, Your theory of a single odd-lot setting off a chain of odd lot prints is correct. My point was somewhat different. If I would have offered 100 shares at the ask, and someone buys 25 shares, it is reasonable to expect another odd lot fill (75 shares). In my example, I had offered 2000 shares. I got several fills (the buying interest at that point of time consisted entirely of small orders). There is a theory going around on some message boards that the # of open orders in the Island book indicates buying/selling pressure. I am often reading comments that there are 100 buy orders and 20 sell orders on the book and therefore the stock has to go up. IMO this is not true as some of these orders are invariably of the type "buy 100 shares at $2". Anyone can theoretically enter hundreds of similar orders to load the number of open orders in their favor. 10 years back it used to take months of cold-calling to pump up a stock. Nowadays it is all done in a few minutes in the afterhours casino. Regards. Rajiv