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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (3606)	1/31/1999 4:22:00 PM
From: kaz	Respond to of 7382

Tom, That is correct. The trader you sold to was either a short who wanted to limit his losses (or was mildly concerned that the price was going to go up but not enough to hit the ask), or a long who had a weak feeling that the market was going up, but didn't want to risk the full spread (ironic, isn't it, that if their bid was hit the likelihood is that the price would go down). I have noticed that when 1/32s and 1/64ths start going by a move is about to happen. People are getting desperate but can't bring themselves to just get out (or jump in). Then, someone big jumps in and all those bidding a tiny above get taken (when the price goes down) and those asking a tiny below panic and lower their asks, cursing themselves for not getting out when they had the chance (yes, I'm speaking from experience here). I have generally added 1/32nd to the bid when I wanted to be first. Good to know 1/64th will also work (unless, of course, someone else already bid up 1/32). Best regards, Paul