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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: brad greene who wrote (13364)	5/6/1999 2:41:00 PM
From: steve	Read Replies (3) \| Respond to of 26039

Brad and all, This may prove to be interesting... Singapore Government's National Computer Board Awards Contract To V-ONE For SmartGate VPN v-one.com This link is for the newbees that may be wondering why the above link may be interesting. v-one.com steve

To: brad greene who wrote (13364)	5/6/1999 4:28:00 PM
From: David	Read Replies (2) \| Respond to of 26039

The four o'clock guy closed the stock today at $10.75. I have an unresearched theory on this four o'clock phenomenon. (1) After hours trading is basically off-limits to individuals and used only by the professionals. (2) One hundred share lots are no way to buy a stock, due to transaction costs. (3) Brokerage houses buying for their own account (a) can trade after hours and (b) won't have to pay themselves a commission. But since they have to buy it from some other brokerage house, they always buy at the ask. (4) Therefore, I propose this buying is by some brokerage house. This seems to me to be a secure assumption. The more interesting question is why? Maybe there is just some need by a brokerage house to conclude the trading day with an easily known transaction (sheer speculation), and they have picked IDX as a sleepy stock that won't create any extra paperwork. In order to keep the books in order, they sell the next day, but we never would pick up on those trades. The expense to the brokerage is quite minor, and more than offset by some presumed accounting advantage. Maybe they do something similar on the NYSE in a different stock. In other words, the four o'clock guy is a securities bureaucracy that couldn't care less about IDX one way or the other. We've just had a mistaken Copernican view of these trades.