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To: Teddy who wrote (8304)	1/15/1998 4:33:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 95453

Where'd you get that press release from?GD

To: Teddy who wrote (8304)	1/15/1998 4:44:00 PM
From: Lucretius	Respond to of 95453

I don't know what will happen tomorrow (wish I did) because this is today, but as of today somebody wanted in NE real bad before the close and there weren't enough sellers to accomodate him, if your report is correct. Good Luck. -Lucretius

To: Teddy who wrote (8304)	1/15/1998 9:59:00 PM
From: Teddy	Read Replies (2) \| Respond to of 95453

OT i'm still thinking about the Closing Buyside Imbalance. As pointed out by others on this thread, it may mean nothing tomorrow because there will be new buyers and sellers. Then again, why would they publish data that means nothing? Random thoughts: A specialist performs two main functions: executing limit orders on behalf of other exchange members for a portion of the floor broker's commission, and buying or selling sometimes selling short for the specialist's own account to counteract temporary imbalances in supply and demand and thus prevent wide swings in stock prices. The specialist is prohibited by SEC rules from buying for his own account when there is an unexecuted order for the same security at the same price in the specialist's book. The specialist's book includes the specialist's own inventory of stock and all the market orders, limit orders and stop loss orders that have been placed. The orders are listed in chronological sequence. The Specialist's Short-sale Ratio is used by some people to guess if the specialists are more or less bearish on stock prices than the public. Since specialists must constantly be selling stock short in order to make an orderly market in the stocks they trade, their short sales cannot always be entirely regarded as an indication of how they perceive trends. Basically, when the ratio rises above 60%, it is considered a bearish signal. A drop below 45% is seen as bullish and below 35% is considered extremely bullish. Now, what has to happen to close with an imbalance on the buy side? 1. There must be enough buy orders to have taken out all the market sell orders, all the limit sell orders at that price and all the specialist's inventory. 2. The specialist does not want to fill the remaining buy orders by selling short. My conclusion: While many things can happen over night, a Closing Imbalance on the buy side is extremely bullish. i have no NO FEAR