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Non-Tech : Amati investors

AMTX 1.360

-1.4%

Dec 26 9:30 AM EST

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To: pat mudge who wrote (27345)	10/18/1997 3:52:00 AM
From: Schmedley	of 31386

<<The MMs were absolutely determined to keep it at or below 17.5 --- and they certainly succeeded. >> Having to watch AMTX on the Nasdaq Level II screen today was disheartening to say the least. Talk about stealing candy from babies. I watched in disgust as 5-10k offers came in to a thin market and scared the price down to 17 and then do a 180 turn around with continuosly escalating bids of 9,900 shares driving the price back up...but whoops it went too far! (17 3/4) So they shamelessly did another 180 reversal and drove it down to exactly 17 1/2 for the close. Todays lesson for all to see was that the big money and the option sellers are one in the same -it's not our imagination; they can and do control the price of a stock long enough to sell their options at an (often artificial) high and cover their shorts at or near nothing by closing at an even strike. It was the most blatant manipulation I've seen in a long time. What a thrill it would be to have the money necessary to burn these bastards at their own game!! Schmedley

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