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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Gary Korn who wrote (27834)	12/13/1997 5:22:00 PM
From: sepku	Read Replies (1) \| Respond to of 61433

Gary, I have noticed a subtle, yet refreshing change in these sector performance charts over the past 3 months. ASND, once well in the bottom 1/3 of the list, has steadily been moving up in the ranks. I am actually comforted by the fact that we have already seen the worst, and are therefore somewhat cushioned to any further distress stemming from this awful market. Now it's everyone else's turn. Style Pts.

To: Gary Korn who wrote (27834)	12/13/1997 5:26:00 PM
From: Joe Fang	Read Replies (1) \| Respond to of 61433

Hi Gary, first of all, thanks for all the block trading info. you've provided. And yes I think it is relevant data. About institutions buying at the ask, I asked the traders that sit behind me at work and here's what they basically said. My question: Do institutions buy at the bid unlike the rest of us ? Trader: No, in fact, most of the time they buy at the ask. He said that it really depends on how badly (the time and size of trade) they want the stock. If they want it asap, they will buy the whole block from the specialist at the ASK. But if they are only willing to pay (limit price)and/or are not in a hurry to acquire the stock, the traders will break up the order, i.e. send 5000 to the the floor, 1000 to DOT, 4000 to instinet to get price improvements. He didn't say much about buying at the BID since it is not always available. ( I am thinking only when there is another party that's willing to sell at a price that happens to be the BID price at the moment could it go through at the BID). Joe P.S. I hope this info. helps