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To: JGoren who wrote (27900)	4/21/1999 1:39:00 PM
From: T L Comiskey	Respond to of 152472

J..."so we will easily pass 7 million shares today. That means 10% of the outstanding shares have traded and a much larger percentage of the public float. "....".Correct me if Im wrong...but believe NASDAQ counts a buy and a sell as 2 trades...thus...5% of the float has traded.....Tim

To: JGoren who wrote (27900)	4/21/1999 2:18:00 PM
From: Robert Sheldon	Respond to of 152472

That means an awful lot of people are SELLING. For every buyer there is a seller. This is an incorrect statement. The market makers may not be able to match up buyers with sellers, so they may actually have to sell short to fill the buy orders. They have to do this because they have the privilege of pocketing the spread for the majority of the time that a stock will trade at levels reasonably in the supply/demand range.

To: JGoren who wrote (27900)	4/21/1999 3:11:00 PM
From: dday	Read Replies (1) \| Respond to of 152472

George, Volume on Nasdaq prints both sides of a trade creating a myth of twice as much volume. That is, a 10,000 share buy on the NYSE is one order and 10,000 shares between buyer and seller. Nasdaq prints a sell and buy creating 20,000 volume. Some trades are printed 4 times. Here's how: a) Buy order via broker is sold to a third market firm for a rebate of 2 cents per share. That creates a print. b) Buy is executed by third market firm. Print #2 on the buy side. c) Sell order from Pru is sold to a different trading house for 1 1/2 cents per/share. Print #3. d) Sell order completed on the street to our pals up there is a & b. Print # 4. Thus, 40,000 shares printed on a 10,000 share trade. Houdini would love it. Third market guys pay $20 for the right to execute the order and then work the order for a profit at the expense of the customer. Who needs spreads?????