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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Nazbuster who wrote (15233)	2/27/1999 4:09:00 PM
From: genejockey	Respond to of 122087

Daniel, RAJA's and LEHM's actions on Friday were not those of brokers interested in securing OMGA shares at good prices for their clients. Also, one thing to keep in mind is that although RAJA may display a 11 1/2 bid for 100 shares, I do not believe he is in any way bound to make a trade at 11 1/2. So it is very possible that when RAJA was diplaying the best bid for 100 shares at a price of 9-10 or so on Thursday, he may have been buying significant amounts to accumulate while on Friday, when RAJA was displaying the best bid in the 11 1/2 to 13 range (he walked up the bid with LEHM), he may have been trading a small amount of shares just to keep the prints going... Do you see what I'm getting at, I didn't closely follow the sizes of the trades that went off (and I don't think most people do either), so it's very possible that at the high price points, RAJA may have been displaying the best bid at critical times and buying enough to keep the prints going without swallowing all the orders which allowed the momentum to keep going inducing other bidders to jump in in front of him and with him. At that point, he often dropped his bid or kept the bid (but by keeping the bid, it doesn't mean he was buying anything since now there were other bidders). RAJA did 2 curious things. 1st, He walked up the bid... I believe he was the first to bid 12 and 12 1/2 and a couple of other points. Secondly, when other bidders joined him, he would often drop his bid down... but as soon as the other bidders started to drop their bids, he would go back up. When bidders joined him again, he would often move his bid up. When bidders joined him again at the new high, he would sometimes drop down only to come back if other bidders dropped, or he would stay at that level. What it comes down to Daniel is that looking at the level 2 screen, just when you see other bidders dropping and you think OMGA might head south, you see RAJA at the high bid holding the price up... and you see him also progressively increasing his bid when other bidders join him. RAJA just acted real fishy. But hey, maybe RAJA was doing what his clients told him to do... but judging by RAJA's actions, the client order must have been buy as many OMGA shares as you can at any price. I just think RAJA probably accumulated a decent amount of shares early and walked up the bid (eating some high priced trades in the process) while at the same time selling his early positions into the runup... but I don't know. However, as I mentioned before, quite a few people in #daytraders were commenting about RAJA and LEHM (when LEHM showed up on the scene Friday), so I tend to believe the OMGA action Friday was not just market forces at work.---- Not Howie