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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Jan Crawley who wrote (38737)	3/10/1998 10:38:00 PM
From: Gary Korn	Read Replies (1) \| Respond to of 61433

YTD performance of selected network stocks through Tue., 3/10/98: Stock 12/31/97 03/10/98 %gain(loss) MADGF 3 7/8 6 54.8 XYLN 15 1/8 23 3/8 54.5 ASND 24 1/2 34 15/16 42.6 SHVA 8 9/16 12 3/16 42.3 LU 79 7/8 108 5/16 35.6 NT 44 1/2 55 5/16 24.3 XIRC 10 1/16 12 19.3 NSU 25 9/16 28 11/16 12.2 NWX 277.83 307.55 10.7 CSCO 55 3/4 61 3/8 10.1 TLAB 52 7/8 58 1/16 9.8 MRVC 23 7/8 24 7/8 4.2 COMS 34 15/16 34 3/4 ( .5) FORE 15 1/4 14 11/16 ( 3.7) PAIR 19 3/8 18 7/16 ( 4.8) WSTL 12 3/4 12 1/8 ( 4.9) CS 15 13 3/4 ( 8.3) NN 34 7/8 24 5/8 (29.4) CIEN 61 1/8 41 (32.9) Gary Korn

To: Jan Crawley who wrote (38737)	3/10/1998 10:46:00 PM
From: Jack Colton	Read Replies (1) \| Respond to of 61433

The NASDAQ reports all sales, purchases and inter-dealer transactions.

To: Jan Crawley who wrote (38737)	3/11/1998 7:58:00 AM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 61433

Glenn, Why 2.5 times? Thanks, Jan Jan, The NASDAQ does not use specialists as you know as does the NYSE. There are a variety of market makers for each security as you can see from Gary's level II posts. The obvious is the NASDAQ counts the shares sold to the market maker as volume and then the same shares bought from the market maker as volume. That explains the two times you indicated. The additional volume is the trading of shares between market makers. Each market maker can see the number of shares the other market maker has on the bid and ask size. Let's say the market maker at DLJ gets an order for 20,000 shares of Ascend. However he is not holding that many. He does see the GS market maker has shares to sell. He emails the GS market maker and as a professional courtesy the GS market maker will sell his shares to the DLJ market marker between the bid and the ask. That is why you will occasionally see a post of 34 x/64ths. These are counted as volume too. Glenn