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To: HH who wrote (15208)	3/17/1998 9:21:00 PM
From: P.Prazeres	Respond to of 95453

Heyward, I was wondering what caused the jump in GLM and RIG at the very end of the day and after hours....that is probably it....here's to a good weekend. Also, where on the web do you get overnight prices??? Paulo

To: HH who wrote (15208)	3/17/1998 9:25:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

OT for this thread, but NYSE specialist stuff that i think it wicked interesting: Quick Buck: A little dipsy-doodle on the New York Stock Exchange that hardly anyone noticed. Late on Monday a big buyer waded into the market to buy about 100,000 shares of Disney at the close of trading. Facing that kind of demand, the specialist increased the price of Disney stock about three bucks, from 107 to 110. That created a funky "gap" up in the stock price at 4 p.m. and helped jerk the Dow Jones Industrial Average more convincingly above 8700. This morning, Disney started trading as though that late action never occurred. Right from the opening bell Disney traded at 107 1/2. It didn't do much better throughout the day. So here's a little lesson on how a specialist makes a lot of money. When the market order came in at the end of Monday, the specialist could've taken the trade at the current price. To do so, the specialist would've had to short the stock at the market price, unless the specialist had the shares in inventory. But instead of doing that, the specialist sells the stock "up" to the big order. Under Big Board rules, the specialist can push the price higher by 1/8 every 1,000 shares. So on Monday the specialist shorts the stock at the gapped-up price, anticipating that Disney will go right back to where it was when the big market order came in. Voila, Tuesday morning Disney opens at 107 and change. The specialist takes in the stock, satisfies the short, and has a grand old morning. Of course, if Disney kept rocketing after the aberrant order, the move would look foolish. But on this day the quick bump-and-back trade made for an enriching few minutes of action.