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Technology Stocks : THQ,Inc. (THQI) -- Ignore unavailable to you. Want to Upgrade?

To: Quad Sevens who wrote (10755)	5/11/1999 9:49:00 PM
From: Apakhabar	Respond to of 14266

FWIW, from the time and sales print: There were 22 blocks 5k shares or more (four were 15k) and many others between 3k and 5k today. Of the 22 blocks three went off between the bid and ask, eight went off on the bid, ten on the ask, and one slightly below the bid. Most of the block trading occurred between 23 15/16 and 24 1/16. I had the feeling (this isn't science) that with all these blocks going off, if the price wasn't declining (this would be the normal course for THQI in the face of multiple blocks) then somebody was accumulating. But I don't know why the price stayed so steady at 24; it just did. Aside from a 8.8k block at 3:57 most of the trades during the last twenty minutes were 1000 shares or less. From 3:45:13 to 3:46:22 five trades went through, each just 100 shares, but the bid-ask changed ten times. It only took 48 seconds for the bid to go from 24 1/8 to 24 3/4. Why did the stock suddenly shoot up? I dunno. It did look to me like somebody trading through BTRD (Bloomberg) had been accumulating shares. BTRD once again appeared and sat atop the bid after the bout of selling got the price under 24. I would be interested to know if any of the usual suspects (Steinberg, Navillier et al) trade through BTRD. Maybe the sudden rise up at the end was just a few shorts scrambling to cover using market orders, and buying into a seller-depleted pool. At least that's how it looks to me. We got the resistance at 27, and a minor sell-off of profit-taking. My guess is that the only sellers back up to 27 will be from the small and nervous. I don't think E3 has anything to do with it, not yet, although, if the WWF game preview looks like a hit, and something else potentially profitable is introduced, we might get the shove we need to reach a new high. But I wouldn't bet on that; just think back to how totally useless E3 was a year ago to the share price (from 25 to 20 pre-split after a month of supposed basing at 24-25). Anyway good luck to all.