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Technology Stocks : AUTOHOME, Inc
ATHM 22.92-2.7%12:38 PM EST
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To: MIKE REDDERT who wrote (18810)1/15/2000 12:04:00 AM
From: Schmedley  Read Replies (3) of 29970
 
"........much of the gain was from shorts caught with their pants down"

Thanks for your insight Mike. It appears as though there was much truth to the observation. Although judging by today's ruthless pounding of any attempt to rally, I would venture to say that there are some major interests out there who are determined that the ATHM chart doesn't get out of hand. What I witnessed didn't exactly resemble profit taking. Far too much money was being spent trying to keep prices stable (not necessarily down). While I would be hesitant to put much credence in the rumors flying about, I suppose that the momentum crowd could make any attractive buyout or merger offer pale in comparison to their exacerbated extremes. None the less, what we witnessed today could be likened to a bear being attacked by a pack of wild dogs; quite frenetic. I don't think this is over.
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