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Technology Stocks : All About Sun Microsystems
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From: Arthur Tang1/23/2007 2:48:55 PM
   of 64865
 
Some one asked about why the correction to balance the market makers' short interests.

Market makers do short interest and hold the cash to buy back stock they shorted(sold to their own customers). This prevents Wall street from 1929 catastrophe. There are always cash to buy stocks instead of depending on banks to buy stock prior to 1929.

With the short interest as listed at month end by Nasdaq, too many market makers have a position in Sunw. Some needed to lighten their short interests(decreased customers invested in Sunw) and some need more short interests to cover their new customers, who deposited Sunw stock and no cash.

If you know elliot waves, pull back may go three waves short term($6.25, 6.07, 5.75, 5.35); we may also be waiting for Sunw quarterly report the minute it gets released?
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