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To: Jeffrey S. Mitchell who wrote (7104)	8/6/1998 12:45:00 AM
From: Chuck Hekman	Read Replies (1) \| Respond to of 10786

Jeff, I just happened to be watching at the time and noticed the big drop in price at close, without the corresponding change in bid/ask prices. In reflecting on the why I came to the conclusion that someone, under pressure of wanting to get a sell order in before the close simply made a fraction conversion error. i.e. 10 12/32 instead of 10 12/16, which translated in the the 10 3/8 transaction we saw at the close. And of course, it would have transacted immediately. Another scenario, although less likely, would be if a MM made a mistake. Perhaps one of them put in an offer on the ask with a price of 10 3/8 (another fraction conversion error). Of course, with the NASDAQ being electronic, it executed immediately and therefore no one ever really "saw" the ask drop for that second or two. Your explanation of the MM tanking the stock is one I had not thought of. I guess I just don't have that devious of a mind. <ggg> I suppose they (MM) could have done it to force margin calls. They wouldn't do that would they? <g> As far as whether additional shorting is going on or someone is unloading a large position due to a margin call, I just don't know. It could easily be both, which would explain why it is so hard to see when looking at the transactions for the day. I'll be very interested in hearing what you come up with. Regards, Chuck Hekman