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Technology Stocks : Xicor ?
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To: kblaine flaherty who wrote (456)7/17/1996 1:48:00 AM
From: Jim Green   of 2920
 
As far as market makers go I have a little story of a small medical stock which was at 9 Friday evening. Over the weekend it was announced that its most promising product, which was going to be marketed by a major drug company, had been dropped due to company policy changes. On monday it opened at 4. No chance to buy or sell on the way down. Just 4. By that afternoon it was back between 5 and 6. Eventually it got back above 8.

I bet that no share holder was able to buy at 4. I pity the poor sucker who had a stop loss order in just below 9. He got wiped out. I think the only person who could buy at 4 was the market maker, he probably sold at 5 and made a nice profit that afternoon.

Any one else have scary stories to tell? Jim G
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