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

To: steve goldman who wrote (2818)	4/5/1998 12:41:00 PM
From: Risberg	Read Replies (1) \| Respond to of 4969

Steve, to clarify the ticker for the big volume on DBCC friday, there were 4 noteworthy transactions within 30 seconds, all under the bid. This is the order of transactions: 5 -- 787,000 shares 5 1/8 -- 600,000 5 1/8 -- 100,000 5 1/8 -- 50,000 Then the small orders came fast and furious, and several minutes later the price hit 5 3/4. Any comments welcome. The marketmaker found a seller at 5 and a buyer at 5 1/8 and enjoyed a 1/8 spread on the whole deal?

To: steve goldman who wrote (2818)	4/5/1998 3:04:00 PM
From: LTK007	Read Replies (1) \| Respond to of 4969

Thanks,Steve,and it seems that we need to see what the price action is subsequent to this event. But of note,to be factored in this stocks TA was improving vastly for about two weeks before this,and it was basing at 5&3/4 in accumulation,and then at end day two days before this 1plus million block,the stock price dove and because I have seen this before I felt that the MMs were loading up on stop-sells.And until this block went through the stock price was behaving against both TA and much good news coming in. The mystery is the seller had amble opportunity to sell off during the stock's run from 4 & 1/2 to 6 & 5/8---so the seller would have to be truly desperate for some personal reason to sell at 5&1/8(this the price at which 1.25million shares changed hands,and it was a single trade)and then mere moments after the stock went to 5&3/4 in roughly 6 ticks and 300 thousand shares traded--all this in less than 15minutes! Thanks,max90