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Technology Stocks : Oracle Corporation (ORCL)

ORCL 200.28

+0.7%

3:59 PM EST

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To: Sowbug who wrote (4136)	12/10/1997
From: Sam Golden	Read Replies (4) of 19080

What a classic Market Maker play. EPS miss by .04 (BTW- Zacks and First Call had analysts who had .19 on the low end) so bunch of sell orders come in before the open. MM are now in their glory. They tank the stock 10 points at the open. Funny though stock trades 170 million shares after the open in a 1 point range. No volatility if you take out the gap down. Now the MM are saying to themselves "well boys we have about 70-80 million shares at 23, what shall we do with them?" " I guess we will just have to sell them back to all those suckers who were nice enough to give them to us at this generous price, but they will have to pay a premium for our services". I watched the ticker all day (thats why I'm delerius now) and I sure didnt see very many large blocks relatively speaking for the amount of shares. It was all the little guys selling out because they just didnt stop and think first. I have seen stocks tank before on bad news, but cant remember ever seeing such stability in price after the gap down open. So now the MM will have a field day and probably make a years income on this fiasco. The only way this thing goes down tommorrow is if anymore brainless holders decide to sell at the open and the lights will go on in the MM heads once again Finally, Is this co worth 35% less that yesterday. I think not. Its a great game isn"t it?. If you bought today great opportunity to get out and back in for a few trades. I suspect we will now see the volatlity. Just my take, Hope i didn"t bore anyone with this bedtime story. SAM (and I thought the Y2K sector was nuts, this was obsurd what took place today) All opinons welcome.(as long as you dont disagree<gg>)

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