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Technology Stocks : America On-Line: will it survive ...?
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To: D Lewis who wrote (4107)7/23/1997 7:14:00 PM
From: James F. Hopkins   of 13594
 
Hi Don; The market is so high that every one and his brother is
hedged, so the demand for call/puts is out doing the supply,
and that runs up premiums , to top it off the more shorts we get
the more momentum buyers pick the "buy stops" off. It's like find
the "buy stops" the shorts have..then buy the stock up to trigger
them..and sell right back to the ready made market..the brokerage
houses and some funds have the inside track on this stuff..and
when the action gets heavy you bet they zero in. If there are still
buy stops working when they sell what they bought then they short,
to the shorters getting bought in. Heck 2/3rd or more of AOL volume,
is one shorter selling to one who is covering.
Jim

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