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To: Don Green who wrote (12752)5/5/1998 8:46:00 PM
From: HerbVic  Read Replies (1) | Respond to of 213177
 
Really? That was not short selling that drove the price from 29 7/8 to 29 11/16 in the last 2 minutes? It actually dipped to 29 5/8 before closing at 29 11/16.

I don't have Level II. Just using Datek and Quote.com for intraday. Do you?

HerbVic

_____
Not really that is a MM trick, the last trade was 100 shares throw out at a lower price just to keep you
thinking. MM do that all the time. It would be valid if it were a large block 5-10K, but 100 shares
means nothing.



To: Don Green who wrote (12752)5/5/1998 9:27:00 PM
From: Sam Scrutchins  Read Replies (1) | Respond to of 213177
 
Not really that is a MM trick, the last trade was 100 shares throw out at a lower price just to keep you thinking.

Don,

The last price change was an uptick from 9 21/32 to 9 11/16. The MM's apparently did not want the stock to close at 32nd's. Also, I think some number of investors bailed after the stock passed its old high. These were investors who were probably either short-term intraday types or some whose objectives were met by the old 52-week high breakthrough. I don't think it was shorts who drove it down. FTMP, the MM's seemed to be sitting on the sidelines today. They appeared to hold the stock between 29 1/4 and 29 5/16 for a good while before the final rally, but other than that, there did not appear to be a lot of trading before the bid/ask sizes adjusted.

Sam