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Technology Stocks : Rambus (RMBS) - Eagle or Penguin
RMBS 101.61+2.8%Dec 5 9:30 AM EST
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To: cellhigh who wrote (59402)10/31/2000 5:54:57 PM
From: Bilow  Read Replies (3) of 93625
 
Hi cellhigh; Re: "I READ JACKS ARTICLE OVER THE WEEKEND..i thought the market dismissed it as the bullshit it is on monday. sure enough put it on mainsream tv,and there goes the weak hands,i pitty people who trade on cnbc takes on anything."

I think that this is correct, that the people who are long term holders of RMBS ignored the article. But a lot of very good traders trade on perceptions, and the perception is that CNBC is influential. I would have to guess that there is a pile of new shorts today, and they are likely to cover if the stock goes against them much. Of course, if there is a pile of new shorts, then there also has to be a pile of new longs who bought the shorted shares, and they have similar worries.

But overall, this could be very bullish for RMBS, as the increase in volatility and trading (huge share count today) attracts daytraders, and daytraders tend to cause short squeezes.

What I really wonder about is why Rambus hasn't been releasing bullish news as this stock creeps down. They've been pretty good at releasing news at critical times before, I'd be just a bit surprised if they didn't release good news before the market open tomorrow.

-- Carl
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