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Technology Stocks : Red Hat Software Inc. (Nasdq-RHAT)
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To: Mike Petriv who wrote (715)8/19/1999 10:02:00 AM
From: Nelson Chang  Read Replies (1) of 1794
 
>>>MMs loaded up the short boat on Wednesday and will drive the price down.<<<

Whenever I hear this I think 2 things.

1) Wannabe trader
2) Wannabe know-it-all

I have friends in the business and have also heard from ex-MM's, that MM's close out the day position neutral. They rarely hold shares at the end of the day.

Which is why when you buy calls of a stock, the underlying stock will rise, etc. MM's will buy the underlying stock to cover themselves which is often the case.
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