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Non-Tech : MediaBay, Inc. (Nasdaq:MBAY) former Audio Book Club (KLB)
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To: david james who wrote (7)2/19/2000 3:46:00 AM
From: Apakhabar  Read Replies (1) of 14
 
David, Somehow I missed your post last week.

I appreciate those links. I've kept tabs on MBAY since they came to the Nasdaq and whenever the price has been under any pressure, HANO has simply stayed on the inside bid almost the entire time. They have either been filling a large, passive order for a customer or they have decided to accumulate for themselves, or a combination of both. Personally I doubt they would take too large a position for themselves as that entails taking on a level of risk that MMs abhor.

A lot of selling has gone through PRUS or Instinet. I am not surprised by the recent pullback from 16; that's just trading and profit-taking and returning to significant moving averages. Do you have a position in MBAY? I am a trader so I rarely hold overnight. But I have an IRA and another account I use for long-term holds, and I am tempted to stash some MBAY in one of them for a year or so and see what happens. I'm not a believer in most online retail sellers, but I like MBAY because they actually make money, they control a niche, they are not obscenely priced, and they have a lot of big money behind them. I wouldn't make MBAY a core holding, but for an internet speculation that you don't have to monitor every fifteen minutes I find it pretty attractive.

Minor point: As far as I know there's no such thing as a market order after hours, unless you decide yourself to buy at the current inside limit order. But I haven't kept up with what the E*trades and other OL brokers are doing, so perhaps one of these has kept the "Market order" mechanism working, even though every buy and sell is a limit order from an ECN.

Anyway, as far as our friend Bird here goes, I guess he is just learning the ropes because he seems fascinated by these meaningless spreads.


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