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SEC Follow Up Exhibits Part C SEC_OEA_FCIC_001760-2501

SEC Follow Up Exhibits Part C SEC_OEA_FCIC_001760-2501

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Price<br />

$40.00<br />

$35.00<br />

$30.00<br />

$25.00<br />

$22.55<br />

$20.00<br />

$15.00<br />

$10.00<br />

three minutes have volume > 3,000,000<br />

Evening After Close<br />

Previous Day<br />

Overnight 6pm - 8am (Not Shown)<br />

Morgan Stanley Intraday Trading by Assent<br />

September 19, 2008<br />

Morning<br />

Before Open<br />

$33.25<br />

4:00 PM 5:00 PM 6:00 PM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM<br />

Time (1-Minute Intervals)<br />

Market Hours<br />

Volume NYSER 5 <strong>Up</strong> NYSER 5 Down Price Range Opening/Closing Price Average Price S&P 500 (SPDRs)<br />

3,000,000<br />

2,500,000<br />

2,000,000<br />

$27.21<br />

1,500,000<br />

1,000,000<br />

500,000<br />

0<br />

Volume

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