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Technology Stocks : Webhire (HIRE) - Enters the Softbank Web
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To: Gutterball who wrote (27)7/29/1999 1:05:00 AM
From: Jose Matos  Read Replies (1) of 41
 
Come on Dan, who you kiddin? HIRE ain't goin no Higher. It's seen the high for quite some time. Hire ran up way above what is reasonable. The Softbank money is last weeks news. The run up from 10 to 14.5 was due to a leak about the Yahoo deal.
The $3 strong move it made this morning (for about 25 minutes) was lemmings piling in. Once everyone was in, the MM's pulled the rug out and began shorting from 17 ~ 17.5.
How else do you go up 3.5 on 400K traded, then wind up down 1 5/8 on over 3 Million?
It's people who bought in at the open getting raped, and larger players shorting at the high (after having made serious money from 12 on up).

Once the volume dries up over the next 3 days, Hire will be Lower.
I'll cover at 8~9.

For me, it's only a trade. You seem to either be in love with HIRE or have some serious interest in getting others to buy in. Nothing personal, but the run was way overdone. Hopefully the drop will be equally overdone.

Regards.
Jose.
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