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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: wily who wrote (3959)	12/11/1998 7:07:00 PM
From: bazooka	Read Replies (2) \| Respond to of 4969

Steve maybe you can help me out. today (12-11-98) i watched MO come under what looked like institutional buying. there were many large blocks 25k+ all on the buy side and the stock began to move decidedly higher throughout the day. then right after the close I saw a 198,000 share print on the bid at the PSE. i didn't even see the pse do that much volume all day. what do you make of this? could the specialist be closing out a huge position that he had taken earlier before the institutional buying. or am i seeing the sellers of all that buying show up in one big delayed prearranged print. or could it be possibly the unthinkable that the specialist or some major investor is setting up for a gap down. i have never seen a print like this after the close. furthermore, i understand that the pse still trades at this time time (until 4:30 pm). is it common to have this kinda of size print at all; other than the first print of the day on the nyse. please look at the T&S and tell me what you see. i would appreciate greatly. thanks in advance, bazooka btw- you mention that you have 22 execution systems, without going into detail can you tell me how many systems you use for nyse issues? and how does S-dot compare to the others you utilize for nyse (% of time, speed/ efficiency, etc.)? just want to know your opinion of how level the listed field is for us electronic traders.