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Technology Stocks : Information Architects (IARC): E-Commerce & EIP
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To: tech who wrote (3559)12/4/1997 9:21:00 PM
From: Hardware Heister   of 10786
 
tech: I'm speculating here, but I don't think that the market makers were short selling Alydaar all that heavily. And I don't think the recent rise in price has anything to do with short covering.

I currently work at a company that happens to do some market making, though not in Alydaar. The traders have gotten increasingly more conservative lately, and they have orders to have their positions close to zero overnight. The stock market has become pretty volatile as of late, so the firm wants to reduce it's potential exposure. I suspect this is true of many of the firms on Wall Street, even more so for those trading tech stocks (as does the place I work at).

[The place I work at is more reputable than the places that make a market in Alydaar though, so I could certainly be wrong.]

I think the market makers saw this as their one last chance to make some nice money with Alydaar as an OTC BB stock, so when we got some concentrated buying recently, they ramped up the price very aggressively.
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