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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (2816)	4/5/1998 11:15:00 AM
From: steve goldman	Read Replies (2) \| Respond to of 4969

Roughly speaking, Every transaction has a buyer and a seller. If you had 1.5 million trade, someone bot 1.5 and someone sold 1.5. Nonetheless, the question should be, did it go to a buyer in a block, ie. did a buyer , one buyer take in the whole 1.5 million or did a market maker working for the selling client, slowly dumping over a few days, going short in the firms' invesntory account, then when getting close, start smacking bids (hence the quick, fast drop), then the big piece, the moving of the 1.5 from the clients account to cover the inventory short position. One big piece changing hands is probably better, because it indicates someone, one person wanted that quantity, offsetting the definate, which is that one person defiantely wanted out of 1.5 million. I just dont know how it was sold. No market maker, on the spot is going to fill and order to buy 1.5 million. The only people who know for 100% sure are the customer an the firm that worked the order. Regards, Steve@yamner.com