How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 478.60

+0.5%

2:09 PM EST

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To: Teflon who wrote (28619)	8/24/1999 10:27:00 PM
From: Bill Holtzman	Read Replies (1) of 74651

Tef, I think the elephants (those with ungodly piles of money) move the market in their own deliberate pattern. A successful trader in Microsoft over the past few months has sold on run ups of a few points. What a great time to blast right through all their limit sells! There was a huge wad of stock out there waiting to be sold between 84 and 92, enough to satisfy some very hungry elephants. Do you realize over $5 billion traded today? Some elephants just dug into a large piece of Microsoft (maybe 1%?) at ~90. They snuck right up on the weak money and grabbed their shares! Now those folks will have to buy it back - at much higher prices! They won't get a chance to get it back lower, will they? By the way, I'm not sure you can discount the tracking stock theory. After all, when the WSJ made their premature press release the stock jumped $5. Investors clearly believe the idea will be a strong positive.

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