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To: Chuck Hekman who wrote (7106)	8/6/1998 9:33:00 AM
From: John Melillo	Respond to of 10786

I did not see the prints but if trades are going off below the inside bid, it is a sign that the trader believes the stock is going to tank and has "preferenced" a market maker below the inside bid aggressively. The market maker has a choice whether or not he wants to honor the trade since it is not a Nasdaq SOES order. I doubt it was a mistake. Large block orders typically are filled outside the inside bid or ask. Once again I did not see the tape, so I can't confirm what happened. Just trying to help, and yes, martket makers make money trading stocks the same way you do so they can, and will manipulate stock prices by typically using SOES to get traders to move the prices where they want. John Melillo still lurking....