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Biotech / Medical : GUMM - Eliminate the Common Cold
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To: Sir Auric Goldfinger who wrote (1506)11/8/1999 4:23:00 PM
From: DanZ  Read Replies (1) of 5582
 
<This pig looks very weak to me.>

Then you obviously don't know how to read the tape. It looked like somebody placed a market order to sell stock with the intent to push it down and make it look weak. The reason I say this is because HRZG kept moving his offer down without regard for where the other offers were. Typically this only occurs when a market maker is executing a market order. At one point, his offer was 3/8 below the next highest offer.

There's no way to know for sure, but a short seller who was boxed could have sacrificed stock with the hope that other sellers would panic and push it lower. It didn't work, because as soon as the "sell program" was finished, buyers came in and started pushing it back up. If the bell hadn't gone off at 4:00, the stock could have recovered all its lost ground. These short term games don't mean squat in the long term. In the long term, fundamentals will win and you will lose if you remain short.

Regards,

Dan
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