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To: Jon Koplik who wrote (24048)	3/11/1999 2:30:00 PM
From: Sawtooth	Read Replies (3) \| Respond to of 152472

Ericy up 7% on heavy vol. Wonder what's up??? (EOMM)

To: Jon Koplik who wrote (24048)	3/11/1999 2:37:00 PM
From: Jeff Vayda	Read Replies (1) \| Respond to of 152472

Jon: care to elaborate on what the bid/ask spread implies to you? Does a lower than average volume effect that? I would assume that today's computer programs are set up to adjust for volumes and spreads real time - still more must be constrained by the time of the day. I seem to hear 'late day buy/sell programs' mentioned in the context of firing up in the 'last half hour' regardless of the overall markets movement. Does not really effect a longer as myself, just wondering about the finer details. TIA Jeff Vayda