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Technology Stocks : OnSale Inc. -- Ignore unavailable to you. Want to Upgrade?

To: zurdo who wrote (4137)	4/17/1999 6:15:00 AM
From: Gary Wisdom	Read Replies (1) \| Respond to of 4903

Is anyone really bored? Here's some stats that you might find interesting about Friday's trading (or you may not). There were 4580 trades on the day. By far, the most popular number was $30, with 547 of them going off there. Other popular numbers were $29 3/4 (279 trades), $29 5/8 (277 trades) and $30 1/4 (260 trades). $31 was pretty popular too (197 trades). Must have been a ton of stops there. Only 11,000 shares went off at $28 5/16 and under. Six trades in all. 252K shares went off under $29 329K between $29 and $29.49 650K between $29.50 and $29.99 794K between $30 and $30.49 343K between $30.50 and $30.99 292K at $31 or higher Why is that important? Well, for two reasons. First, the number of trades around between $29 1/2 and $30 1/2 tells you the avg retail investor that bought today most likely has a cost basis of pretty close to $30. That will be important at some point as either support or resistance. Secondly, most of the stock was traded in the higher end of the range. So, while it certainly was a bloodbath, it was only so bad because the market makers took it down so hard in the first 15 minutes and kept it there. Truthfully, the stock opened at $31, not $33 1/2. So, ending up 11/16 under the open is really a testament that there is buying interest out there somewhere. And as most of you know, that close was idiotic as the bid was $30 1/2 at the close. Again, some short marking their position. Like a dog pissing on a tree. More stats: 4560 trades in total (breakout by share size) 100 shares 1460 trades 200 ---- 724 300 ---- 373 500 ---- 689 1000 --- 533 2000 --- 53 3000 --- 12 4000 --- 9 5000 --- 29 10000 -- 16 greater than 10000 -- 16 Out of the 67 trades 5K shares or more, only 7 went off under $29. Much of the block trades went off at the open AND CLOSE. Guess there were a few bargain hunters after all. Three very good sized blocks (over 15K) went off in the last 10 minutes over $30 1/2. Anyway, that's it for now. I don't know what this all really means. Maybe the market makers closed it over $30 to screw the few put holders out there. Who knows? But hopefully there isn't much more downside left to Onsale at this point.