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Technology Stocks : Avant (AVNT)
AVNT 39.01+0.6%Feb 9 3:59 PM EST
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To: Jonathan Greenberg who wrote (600)9/24/1997 11:44:00 AM
From: Cosmo Daisey   of 3441
 
Jon,
The action today reflects the market rules and the psychology of traders. The short on uptic rule is holding the price up as short orders queue up waiting for a buy to trigger the sell order. The psychology is money in hand for the recent short sellers when they cover, for example someone who sold yesterday at 34 +/- and can cover now at 28 +/- for a quick gain of 6 +/- points. The fund traders are under constant pressure to beat the Dow and this is an opportunity to do it and impress the boss.
Coz
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