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To: Jock Hutchinson who wrote (13541)	7/15/1998 1:54:00 PM
From: DavidG	Read Replies (2) \| Respond to of 25814

Jock, I am glad you responded to that ridiculous post b/c I refuse to even post to him. He obviously is an ignorant investor at best.<g> DavidG

To: Jock Hutchinson who wrote (13541)	7/16/1998 10:53:00 PM
From: thomas hayden	Read Replies (1) \| Respond to of 25814

Jock I'm reading your post about prints on the bid and offering, and I'm not sure I competely follow but I'll throw my two cents in about reading the tape. Generally large prints on the bid mean someone is selling, conversely prints on the offering would suggest the stock is being taken. On the Nasdaq world if a market maker is working an order, say he has 250,000 shares of ORCL to buy, and the market is an 1/8 to a 1/4, as he buys 25,000 he will print them out to his customer at a 1/4. As he buys 25,000 more he'll print those out to his customer on the offering untill he has completed his business. If you are seeing round lots print whether it is 10,000, 15,000, 20,000, 25,000 etc. someone is working something of greater size and generally the stock will move that way. If on the bid the direction is down, on the offering we're going up. I have also been involved where I had 128,300(or some other odd number) shares to buy and the customer says just get long 128,300 and call me with a price. Lets say the stock is 23 to 23 1/8 when the market maker gets the order, he starts buying, and the stock begins moving up. By the time the market maker is long 128,300 the market is now 23 5/8 to 23 3/4. The market maker sells 128,300 at 23 3/4 and is done. Generally when you see an odd print like that go up you can assume whoever is done with their business and the stock would more than likely fall back down from there. The last sceniro doesn't happen much anymore because as you can see the customer doesn't get the best price, but the first example is commonplace.