Knight/Trimark Group, Inc. Message Board

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Non-Tech : Knight/Trimark Group, Inc.

KCG 20.00

0.0%

Aug 17 5:00 PM EST

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To: Herschel Rubin who wrote (2782)	7/26/1999 3:18:00 PM
From: Sir Francis Drake	of 10027

Going down this hard, on volume above 3 million is fairly large volume in my book for a down move, but not a blowout to the bottom. This is not good. And sure there are buyers for every seller. Though often it works like this: an MM gets an order to sell 150K shares (today I saw a 167K sell order). He now has to gather a lot of "buys" from small buyers who pony up 100-200 shares each (unless he has that much already in his inventory). So, it's not like "for every seller, there's a buyer" - exactly (I don't want to make this a semantic game). Ordinarily I would have agreed with you about the shorts not wanting to be caught - unfortunately there is one variable you have to count with - the shorts may feel relatively safe, thinking there is a huge overhang of shares waiting to be unleashed, at which point, they can cover with the plentiful shares. I know many times MMs play such games, shorting stocks to death, because they know shares are coming on the market.

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