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Strategies & Market Trends : Shorts waiting to happen

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To: zx who wrote (99)	5/30/1996 1:55:00 PM
From: Cadaver	of 852

agraff: ANCR: I miscalculated the entry point, I guess. Stock seemed unusually strong. Could be the low float. The NASDAQ sell off also helped drag the price down. IBM owns 1.2 mil. shares of 8 mil outstanding. They probably wont trade. That means float is 6.8 million. Makes the stock very volatile. Another thing you may have noticed is that most of the volume is during the first hour of trading. After that, it drops. The first half an hour saw a 4 point drop. Market sell orders from panicky investors or maybe stop sells. Big buying from 20 1/8 all the way upto 23. Many of them 10k blocks. Some sells at 24. Day traders profiting from the volatility. After that, a drop in volume. Moms and pops trading blocks of 100 shares. Looks like low 20's is support for now. Classical case of inflate puncture and buy by the big boys? USRX: People who wanted to buy USRX have already bought. USRX buyers are not known for panic selling. So we may not see a significant drop. A news announcement can shoot up the price. USRX is not a good stock to short, btw. Cadaver

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