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

To: steve goldman who wrote (3066)	5/26/1998 9:42:00 AM
From: EK	Respond to of 4969

Steve, I've been watching the level II action on Sunglass Hut (RAYS) for a few days. In addition to the usual market makers, brokers, and ECNs, there is one MM, Freimark Blair (FBLC) out of Milburn NJ who has been the most frequent seller and never a buyer. I read this as a very bearish signal, either they're unloading at what they see as a near top, or they are short sellers. Do you know anything about them? They also seem very smart. As the stock is going up they position themselves several ticks above the best ask and wait for the action to come to them.