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Technology Stocks : Check Point Software (CHKP) -- Ignore unavailable to you. Want to Upgrade?

To: blankmind who wrote (2176)	4/29/1998 1:21:00 PM
From: Rahul Desai	Read Replies (1) \| Respond to of 7150

Everyone, Seems like everybody is attributing the fall of this to stock to MSFT's comments. Initially I believe that the MSFT comments were a Catalyst to the drop, however, if anyone has access to a Nasdaq Level II screen, you will notice that this stock has fallen in the hands of the Market Makers (especially GSCO - Goldman Sacs). I have noticed that GSCO will position himself at the best ask (SELLING) whenever that stock tries to rally. In short, he will be the best supplier of the stock whenever buying comes into the stock. By doing so, GSCO will provide the stock till the buying dries up causing a downward pressure on the stock. Is there anyone on this thread who has access to a Level II market maker screen and have been noticing this type of activity for GSCO?? Also, based on the numbers that can be found on the "www.nasdaqtrader.com" site, GSCO has controlled nearly 40 percent of the monthly volume on Checkpoint for the last 6 months. If anyone understands the dynamics of the Nasdaq Market Maker, send me an email explaining if a MM can control the price of a stock. (rdesai@netcom.com) Rahul