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To: Gary Wisdom who wrote (7575)9/29/1998 4:39:00 PM
From: Gary Wisdom  Respond to of 93625
 
Oh yeah. One more thing. Two blocks went off after the close at $66. One for 30K shares, the other for 58K shares.

Postscript: Two more blocks of 50K went off. One at $63, the other at $64. Someone is buying the shit out of this stock. (They were cancelled though)



To: Gary Wisdom who wrote (7575)9/29/1998 5:03:00 PM
From: Dr. Id  Read Replies (1) | Respond to of 93625
 

I'd say it's fair to say H&Q bought at least 150K of those shares as the bid was hit time and time again
and did not move.

They know something.


This is very likely to be true. However, my H & Q broker is in the dark! He seems to know nothing...in fact, I'm usually informing him from info I get here!

JB



To: Gary Wisdom who wrote (7575)9/29/1998 8:27:00 PM
From: MileHigh  Read Replies (1) | Respond to of 93625
 
Gary,

Please help me out. You write...

The last 15 minutes, over 220K shares changed hands. There was one bid at $65 7/8 and the next highest bid was $65.

The bid at $65 7/8 was Hambrecht & Quist. The bid was 600 shares.


It makes for good reading but why would H&Q offer a bid at 65 7/8 when the next closest bid was 65? Are they stupid? They could have offer a bid at 1/8th better and scooped up the shares. Do I have this right or wrong?

Also, if they know something, why didn't they just buy the shares a few minutes earlier at 63-64? Or did they find out about some news that was leaked 10 minutes before the close?

I would question if H&Q knows something based upon this action or if they are out of touch.

Seriously, please post some rational on why they would do this.. I would love to learn more about MM and the such...TIA.

MileHigh