QUANTUM Message Board - Msg: 2939739

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Technology Stocks : QUANTUM

QNTM 9.380

-4.7%

Dec 12 9:30 AM EST

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To: Michael Burry who wrote (6554)	12/11/1997 2:15:00 PM
From: Rational	Read Replies (2) of 9124

Michael: WS is filled with a bunch of IDIOTS. Here is why. SEG announced much lower earnings last quarter and very little this quarter than QNTM. QNTM's DLT business is very strong with virtually no competition. Yet, QNTM is trading lower than SEG!! This is happening because some nervous sellers offered at market, when there were few buyers and so the MMs decided to lower the price sufficiently to buy on their own. As the price became lower, more and more traders panicked. The MMs are having a fun (as their companies are accumulating shares at throw-away prices). They are buying at bids which they set (and the lower they set the greater the nervousness) and they know where QNTM should stand, way above SEG. MMs can do this because QNTM is traded on NASDAQ and SEG and WDC are traded in NYSE. WDC is losing and is not expected to gain soon. Obviously QNTM has DLT and a better DD business than WDC. Thus, QNTM >= WDC + DLT Value. [The "=" is very conservative] MMs in the NASDAQ really stink and this system stinks. In the name of providing liquidity, they create panic depending on what they are told to do by their bosses. We should all be sorry to be living in this system. The extreme volatility in NASDAQ is due to the MMs, the idiotic middlemen. Good news is that SEC will soon make the system transparent and the executions automatic with MMs' buy and sell orders completely visible to every buyer and seller. [This is being opposed by MMs, but SEC is going ahead.] Sankar PS: The key for the MMs is to show the lowest price of the day to create nervousness. If no one offers at such a low, MMs make a few trades among temselves to create the jitters. They can also create a hype if told by their bosses. The system is inherently volatile. If MMs trades are visible to real traders, their will be sanity. SEC is going to enforce this soon.

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