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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Sharkey who wrote (18734)	10/21/1998 3:05:00 PM
From: Craig Stevenson	Read Replies (1) \| Respond to of 29386

Pat, <<What does it likely mean when 1/32 separates the bid and ask, as opposed to the much wider spreads often seen from time to time?>> It could be due to the fact that today is Fibre Channel day. <g> Message 6105061 Seriously, in my experience, the small spreads are usually due to instinet traders trying to buy shares a little higher or sell shares a little lower than the market makers. We also tend to see 1/32 increments on smaller dollar value stocks. Craig

To: Patrick Sharkey who wrote (18734)	10/21/1998 3:12:00 PM
From: Nine_USA	Read Replies (1) \| Respond to of 29386

<<What does it likely mean when 1/32 separates the bid and ask, as opposed to the much wider spreads often seen from time to time?>> My guess is: Wide spreads indicates low liquidity and the market makers are controlling the bid..asked. Tight spreads indicates high liquidity and a) if the stock is trending higher, there is a large overhang of stock for sale. b) if the stock is trending lower, there is a large amount bid. The ANCR action yesterday/today suggests preferred are selling into small buyers.