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

To: Brendan W who wrote (3232)	6/11/1998 1:55:00 PM
From: steve goldman	Read Replies (1) \| Respond to of 4969

Clearly you had a seller selling the piece. The seller probably came in with a block piece andthe specialist looked at the book, figured out where equilibrium would be and filled everyone at 5/8. Now, you were either on the NYSE book and got the benefit or the specialist put the print up BEFORE changing the quote and thus a third market maker might be outside the market, a violation. The third marketmaker mightnot be standing at thebooth, the specialist slaps up xx,xxx at 5/8, makes it 9/16 to 5/8 immediately. The third marketmaker cant fill you at 11/16 now, although we all know they sometimes do and put it up as a late print. Regards, Steve@yamner.com