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JLSegal

12/29/04 9:57 AM

#39041 RE: ajtj99 #39001

Net sell orders from all 'Market on Open' and/or 'Market on Close' orders.
CSCO again had a (net) Sell on Open imbalance today of 227,528 shares.
Not sure what the parameters are, but, I believe the market maker reports these order imbalances before the open/close when it is expected the imbalance is large enough to have a sizable influence on the opening/closing price..... like a 'heads up' call.