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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: K. M. Strickler who wrote (51351)	7/15/1998 5:27:00 PM
From: Jim Patterson	Read Replies (1) \| Respond to of 176387

RE: You missed my point! The attempt for the sale of the large 'block' of stock will be 'tempered' by the desire to get the 'most' for the stock, not the fastest sale. No I got this. You missed my point. The guy may just want out. I have tried to sell 10,000 shares of a stock before. here is what happened. First I was not happy with the position for one reason or another and I wanted out. In this case, average daily Volume was about 150,000 SH/Day I first tried to sell 3,000. That knocked the bid 3/8. About an hour later, I tried to sell the next 3,000. That knocked the bid another 1/2 and more sellers came in. The bid is now down 7/8 on the day and I am unhappy about my exicution. What do I do, I sell enter the next 4,000. But this time I was not the only seller. The bid falls another 5/8. I am done at an average price, about 3/4 below the opening bid. If I had had more stock to sell, the bid would have fallen further. BTW, the stock gapped down the next day. It is not uncommon to see action like this. Now this was a small order in a lower volume stock and it was a slow day so my order probably caused more action than it should have. But this is what can happen. As I got closer and closer to getting rid of the position, the stock fell more and more and I wanted out faster and faster. By the end, I did not care what I did to the stock. I wanted out. Now if I am just selling because I need something to do, need to generate some $$, then I might have put in a limit and not worried about it. I think what we need to distinguish is how strong the desire is to get out. in the case of DELL, where a holder has a 500% gain, What does 3-5 points on the sell mean. Nothing compared to the overall gain. jim