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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: Jeff Dryer who wrote (23290)7/28/1999 1:31:00 AM
From: -  Read Replies (2) of 27307
 
Watching it real-time, looked like there was definitely a derivatives-based sell program operating on the internet sector leaders late in today's session... e.g., AMZN fell plumb-line style; like NO BIDDERS at all... but that doesn't mean there isn't legitimate selling going on behind it. This is definitely worth worrying about, since the nets are coming back in to their previous swing prior lows from recent sharp correction. Everyone thought they'd recovered, and now they may be coming in for real, to who knows where. I'd had to be a buy-and-hold investor in these things, they're vicious enough just to trade. I'm sure there are a few depressed holders watching all of this, my condolences.

re: YHOO comments on not doing anything to defend their stock, true but I doubt there's much they could do against this sort of tidal wave of selling. As pointed out using P.R. to support stocks might technically be "illegal", but FYI in reality it's done every day as a pragmatic step and is virtually impossible to prove. There are a million worse offenses committed every day in the market... that's one that hardly makes it on the list ;)

Let's hope for a good "bounce" to erase some of today's worse-than-usual carnage!

-Steve
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