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Technology Stocks : Research Frontiers (REFR) -- Ignore unavailable to you. Want to Upgrade?

To: Paul M. who wrote (485)	2/6/1998 3:24:00 PM
From: N. Dixon	Read Replies (1) \| Respond to of 50112

You have to also look at the colors. For instance if you go in right now you can see that the 5000 at the bid (grey) is a short sale but it has not gone off. Only 1000 (that was traded at 14:51) of the short sale has actually traded (it is white)and you can see that after that trade it says "dntk." Print out the detailed legend and that will help you. It also helps to follow it a while. I watch my real time quotes and then switch over to Java (which is delayed quotes) so I can see what the trades are. I now think I know why I see a market maker on the ask and the bid for the same company. It looks as though they are playing the short and long end simultaneously. They offer 5000 at 7 15/32 and try to buy it back at 7 13/32 to make a quick $300. Personally I think they are playing with fire ( any news and this could gap up 2 points)but we live in a free capitalistic society so I must defend their right to do so. Hope this information helps.