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To: engineer who wrote (6767)12/30/1997 10:15:00 AM
From: engineer  Read Replies (3) | Respond to of 152472
 
To the post on Nasdaq trading the other day....

I was watching the ticker just now. The bid and ask were at 52 5/8, but someone just put in a sell at 51 3/8 for 1000 shares 3 times in a row. The rest of the trades were going along at 52 1/2, 52 7/16, 52 9/16, ...

Seems a little odd that some fool wants to dump shares at 1 point or more below the market. Would this be someone wanting to push the stock lower by forcing the ticker to go down? Is there something which really makes this happen? (i.e. are they delayed by 20 minutes by something when teh stock really was 52 3/8?) There were no late or downtick markers for this stuff which would indicate that the broker made a mistake or that the trade was a late trade and was just getting posted.

Can anyone offer some ideas as to why this happens?