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Technology Stocks : AUTOHOME, Inc
ATHM 24.03+0.7%12:01 PM EST
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To: E. Davies who wrote (19665)2/15/2000 10:26:00 PM
From: ahhaha  Read Replies (2) of 29970
 
Shorts cover in a stock in the price structure of ATHM's by booking below to buy. This is what draws the price lower. The public sells into the booked shorts below. Price moves in the direction of the book. At a bottom the short selling activity is at a minimum. The shorts have covered. MMs have been forced by the public to accumulate a large position against their better judgement. They're happy that the shorts book below to help them out so that they don't have to hold too much at the bottom, again against their better judgement.

At 1PM EST the stock underwent a price sensitivity inversion. Certainly some trading shorts went in to buy, but that wasn't what caused the rise later. Block buying came in and discovered that there was booked supply above. At the same time the public has run out of stock on balance to sell market. A little buying showed that more market orders to sell were not forthcoming on a little price rise, and so public buying "walked" the price up.

You don't have short squeezes at the bottom. They occur before some kind of a top. Contrary to the patzers both here and over on RB, MMs don't walk anything anywhere except when they want to relieve their dogs on your property. In any event no one knows why the stock rose, but the short squeeze is the least probable explanation here. You're safer claiming that the buyers came in because the stock was near an important low.
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