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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: The Philosopher who wrote (3984)	10/28/1998 1:12:00 PM
From: Brendan W	Respond to of 5944

In the minutes before the market opens the individual market-makers jockey around their bid and ask prices based on the limit and market orders they have on hand for the open. You wrote: >>>>>>>> A generic question, but one that has been bothering me. I notice that Adaptec, particularly, often makes big moves overnight (usually down!). How are these set? Do the MMs look at orders and sales that come in overnight and set a new opening?

To: The Philosopher who wrote (3984)	10/30/1998 7:20:00 AM
From: Dawgfool	Read Replies (1) \| Respond to of 5944

CH, MMs always set bid and ask based on orders on hand at the time. Since orders come in after close and before the open that don't get filled, sometimes major imbalances occur that can move the open bid and ask far off from the previous close. Because the average Dawgfool like me has no idea about what order imbalance may have occurred over night, I very rarely enter market orders during non-trading hours. During trading hours I normally do market orders.