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To: DAN LITTLE who wrote (454)	6/16/1998 11:28:00 AM
From: OLD JAKE JUSTUS	Respond to of 4891

Can the Market Makers, or any other entity, like a foreign government or foreign institution, etc., accumulate stock that is shown on Level 2, or some such trading, but does not show up on the standard daily volume tally? Folks have reported to me that they have seen high volume go through on upper level trading, but it does not show up on the daily volume tally. Many folks have reported this to me. A bank executive in NYC has told me a similar story. Is this possible? None of the folks that I spoke to do not understand it. Does anyone understand how this could be possible?