To: onurbius who wrote (18306 ) 2/12/2001 4:42:02 PM From: AM/FM Read Replies (1) | Respond to It's the big houses. It's Merrill Lynch, Goldman, Lehman Brothers. They were all big sellers on the stock today. A couple of times there was huge buy orders on the bid, but it was all small investors because they were buying through Island (they own Datek and are an ECN)... REDI & NITE. On the other side at the ask was all the big guys, and it seemed like they were taking turns dumping shares... they would just sit there showing 500 shares at the ask and you would just see every print going off at that price. Which means to me they are just handing out shares to everyone and anyone who wants to buy. It tells me they have a huge inventory to sell. Now, when they get out of the way the stock would just rocket up, then they would jump in again.. and they basically did it all day long. I did see Goldman on the bid side later in the day every once in a while, but they were always two price levels down from the inside bid, telling me they weren't really buying, it was just all for show. Anyway, that's my interpretation of how today's action went, watching a level 2 screen. Now, the question you have to ask is are they distributing stock at this price or are they trying to control the upward movement why they slowly accumulate more shares for their customers. This question I can't answer, but it sure looked like they had lots of inventory to sell today. Anyway, that is my perspective, don't try to look too deeply into it because I am a complete idiot and am easily fooled by this kind of market activity. Maybe someone out there can give us some insight into this kind of action. Take care.
