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To: The Perfect Hedge who wrote (8417)	1/16/1998 10:17:00 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

CLG8 working now....

To: The Perfect Hedge who wrote (8417)	1/16/1998 10:20:00 AM
From: HH	Respond to of 95453

Teddy, All during the day there are oreders coming in and out. The specialist is either swapping them out or buying for his account. You can bet that if he sees a huge stampede to buy a security, then he wont sell his own except as it moves significantly higher. At the end of the day , they settle all books. As you would guess , the number of shares offered dont always equal the nummber bid. But once the market re-opens, the orders start flying again and life goes on either up , down, or sideways. the specialshit always makes money. HH