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

To: KM who wrote (4355)	3/21/1999 1:47:00 AM
From: john o	Respond to of 4969

Probably someone covering a large short position.

To: KM who wrote (4355)	3/21/1999 6:32:00 AM
From: steve goldman	Read Replies (4) \| Respond to of 4969

Manning rules require that a firm display a bid or offer ifyou ask, if it is over 10k shares or $250k/ They probably had a client that had a limit order, they get 30 seconds to try to make amarket, a spread on it, and then they displayed the bid. They might have used NITE because Nite does a lot of volume. A bid is a bid, particularly in that stock. We do a moderate amount of business with Nite. They have good points and bad points. Regards, Steve@yamner.com