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To: Brad who wrote (1072)12/16/1997 12:17:00 PM
From: Tony  Read Replies (2) | Respond to of 6654
 
.030x.033 per DLJ

I'm below my mean per share cost for the first time in weeks.

Can someone check my read on the tape?
I figure the 100K trades were MM-MM (happened at the exact same time)
so in the first five minutes we had 104000 buys go through, and 54300 sells, all of which were at 12/256 and might be someone who got stuck with a limit order.

After that, we stay around .48x.50 until someone sells 20K for .046. This triggered the significant selling afterwards. From 9:57-11:29
I'm thinking that 435K were buys and 321K were sells.

I don't understand why anyone was selling after the bid dropped below say .47. No one who got in today could be getting out at a profit. I also don't know why that 20K was so important.

Am I off base, or does anyone have some other ideas?

Thanks,
-Tony

(this had to happen during finals week didn't it <g>)