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Technology Stocks : Apple Inc.
AAPL 278.79-0.7%Dec 5 9:30 AM EST
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To: Sam Scrutchins who wrote (6019)11/7/1997 10:25:00 PM
From: Joe E.  Read Replies (1) of 213173
 
Re: "The only way that someone could hold the price at these artficial levels is to either sell shares they own or sell shares short (I hope I'm not displaying too much ignorance here )."

Hate to throw cold water on a nice conspiracy theory, but today was a 7 million share day for AAPL. IMO the cost of an orchestrated effort to hold the price down or prop it up on a day like today would be enormous, and so nobody would do it. This is not like a government b'crat trying to prop up a currency with somebody else's money. Here everybody has a real bottom line so they don't throw money away.

So let me suggest an alternative theory:

Lot's of people have written Apple off and saw today as a good day to get out or to short the stock. These people sell.

Lot's of OTHER people are excited about the possibility of a big announcement on Monday and are buying the stock for the expected bump or maybe for the long term. Others are afraid of the bump and are covering their short position to avoid it. These people buy.

There are more buyers than sellers today, but not an overwhelming number more, so the price goes up, but not tooo much.

No conspiracy needed, just a market.

Monday the same thing will happen, but the balance between buyers and sellers will probably be different. Tuesday too. et cetera.
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