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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (11592)	4/12/1999 3:28:00 PM
From: Sir Francis Drake	Read Replies (2) \| Respond to of 16892

Jon - this is really spooky... I've seen similiar things myself, and I've been giving it some thought. Odd you should mention DRIV - it's a stock I follow. Here's my "weird phenomena" story. I watch the Datek Streamer, for bizarre occurances. I've seen on occasion, the streamer show a low or high that's just way outside of what's trading currently. Wouldn't you know, that more often than not, the stock tends to follow in the direction of the "odd" trade (though it doesn't always reach it). Initially I dismissed it as just another quirk of the Datek streamer (and God knows, the streamer is plenty quirky), but after this has proven quite reliable on a statistical basis, I've began to follow this. The weird thing, is that when I watch this on LII, and the "odd" trade prints, its not for huge number of shares. If it was a big number of shares, then one could conclude its an institutional "negotiated" trade - and as such, it would signal a direction in which institutional money is headed, and so it would not be surprising that the rest of trading follows that direction. But its not for a huge number of shares. I don't know what to make of this. Maybe we're just seeing ghosts<ggg>!

To: Jon Tara who wrote (11592)	4/12/1999 5:57:00 PM
From: Esteban	Respond to of 16892

Is this just uninformed investors reacting to the bad print? No correlation at all? Or something more insideous going on? If the stock price at the moment of the bad print is aimless and the volume at the moment low, I believe these spikes on the chart can spook some "traders" who are watching their charts and not paying attention to the bid/ask, or maybe don't even understand the significance of the bid/ask. Use market orders only. MM signaling? How could we know? Could be MMs use the excuse to start a little run to profit from, especially if a few market orders follow.