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Technology Stocks : AUTOHOME, Inc

ATHM 20.90

+1.1%

Feb 6 3:59 PM EST

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To: ahhaha who wrote (20824)	4/13/2000 12:21:00 PM
From: Mooster	Read Replies (1) of 29970

Many people transact because they assess that sentiment says they should, but the same sentiment causes the reverse transaction among others This, I would say: the rate of price change effects retail sentiment and therefor generates market sell orders. I'd guess the market maker fills the orders at a reasonable price until supply shortens at which point, the price can again be driven lower. I do agree that the reverse transaction hangs in the wings and in time can mute the entire cycle, but I disagree that the RT net is zero - otherwise volatility would be absent. Going short near bottom is a better strategy than at the top - the top is ever more obvious in a run, but always elusive. I'm convinced that one should short on negative sentiment, but not on negative news. The latter is an event which can be digested and turned around in 24 hours. ATHM has been a great stock to short because of this - no event happened, just negative appreciation for decisions made by the brass. Oregon decision will constitute an event, but possible mute by the time it arrives.

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