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Technology Stocks : CAWS - Wireless Cable (New and Improved)
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To: Zorro who wrote (904)12/10/1996 5:39:00 PM
From: Don Lachot   of 5812
 
One comment about the Nasdaq:

Everything is pushed to extremes, on both the upside and the downside. CAWS at 17 was as much a joke as CAWS at 1 1/2. The mms have a vested interest in "helping along" whatever trend a stock is in. They see bad news and "help" the stock fall, knowing that the eventual rebound will be very strong. Two reasons why: 1)Volume...mms make money by extremes in price fluctuation due the volume increases it causes 2)They play the extremes. They buy when a stock becomes so cheap as to be obvious play , and sell (and short) when a stock becomes so expensive as to be obvious play. So, the lesson here is to hold or buy now. Sellers will regret it. CAWS will have a magnificent rally on any good news at all.
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