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Technology Stocks : Ascend Communications (ASND)
ASND 225.06-0.6%12:53 PM EST
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To: James A. Shankland who wrote (3893)6/10/1997 6:41:00 PM
From: Glenn D. Rudolph   of 61433
 
If that explanation is correct, then ASND's sharp downward move is not caused by MM's driving the price down and loading up on ASND so that they can sell it back to us later, at a higher price; rather, it's due to MM's not stepping in to load up on ASND when various large investors want to lighten their positions a bit, instead leaving their hands off and letting the price "flap". James, I doubt the Market Makers have much control over the price of the stock. They have a little control over the spread from the bid to the ask but that has narrowed too. The stock is driven by the fact there are more buyers or sellers of the security. Today, there was clearly more sellers. I attribut this to the Money Managers that will exit a security until they understand what is happening better. This panic selling builds on itself. Glenn
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