SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Avid Technology
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John Veltheer who wrote (228)5/7/1997 9:25:00 PM
From: stephen silk   of 777
 
one mans opinion on todays action. I'm a short term trader and avid peaked my interest over the weekend as i went thru all my charts. it's been riding the bollinger band top, over bought as far as stoc but was okay on macd. today the macd seemed to be turning negative. The may 20 puts only started trading yesterday, and the first day to show open interest was today(7 contracts) with the stock at 23 someone bought 170 may 20 puts for 1/8. I followed buying 30 contracts. Then as you say the bottom seemed to have dropped out. I've never really seen anything like it without a news annoucement comming out. In fact shares were trading below the bids as market makers hit the soes guys who were putting buys below the market. (when that happens, the soes bandits just hit the current bids and make their profit). And you were correct as the market slide avid had a very narrow range, between 20 1/2 and 21. I can't figure out what is going on. It would make sense if it was momentum buying going up, because the first sign of trouble would send them scurrying. My technical guess from the charts here would be a test of the gap at the 17 area. At that point I'd be looking at the call side.

Thursday should be interesting, not only for avid, but the whole NASD composite seems extended.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News