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Technology Stocks : Emulex, What Prospects?
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To: Ron Kline who wrote (558)8/26/2000 6:19:20 PM
From: Kevin McKenzie   of 788
 
Ron,

Well said. I think anger at the MM's is misplaced. As the stock declined from the low 100's to the 40's. I think it was the MM's that did most of the buying. In other words. they were obligated to buy hundreds-of-thousands of shares in the 90's, 80's, 70's, 60's, 50's and 40's. If the hoax had been true, or had not been cleared up in the same day, many of those MM's would likely have been wiped out.

Anyone who accuses the MM's of participating in this has to ask himself: "If it was such an easy decision for the MM's to buy at depressed levels, then why didn't you buy?" You could just as "easily" have bought all the shares you wanted at 50 to 70 and sold above 100 a couple hours later. I, for one, was much too petrified to buy at those levels. I'm glad I wasn't obligated to buy, as were the MM's.
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