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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts
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To: Junkyardawg who wrote (16250)1/26/2000 12:34:00 PM
From: Don Pueblo  Read Replies (1) of 63513
 
Well, I can't tell for sure. All I know is that the MM is selling. I'm actually guessing about the shorting thing.

Here is the way I look at it. You see a stock run up hard, and then you see somebody selling at the ask and not letting the price go higher. In this example, the MM was on the ask for 1000 shares at one point where it topped out, and he was the only guy on the ask. When you see 50 buys go off at the ask for a thousand each, and the MM still shows 1000 and nobody else is there, you can assume that the guy is shorting. The proof is that the stock fails to go up and backs off.

Unless you have Level 2 and have a big interest in this stuff, it's not very important. The truth is that there are other MMs and they snake each other every day. This one was weird just because one MM, DLJ, just sold and sold and sold as the stock went DOWN from 12 down to 9 1/4. My assumption is that he has enough money to ensure that the sales he made will be profitable.
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