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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: R Stevens who wrote (551)	6/26/1998 11:11:00 PM
From: agent99	Respond to of 1729

Just before 11 am et., about 420K shares of SIII traded just under $5. Then a minute later, the same amount of share traded for just above $5. I have seen this kind of "duplicate" trade on large blocks happen in other stocks and I haven't found a good explanation for it yet. This one is so obvious that it makes a great candidate to discuss, because there is no doubt that these trades are related in some way. It's simple: You are looking at two sides of the same trade. A dealer buys 420k shares on the bid side from one party and then sells them at a spread to another. Both sides of the trade are then reported. (Note that as a result there is alot of double counting of shares on the Nasdaq.)