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Technology Stocks : Apple Inc.

AAPL 267.46

-1.9%

Nov 17 3:59 PM EST

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To: J R KARY who wrote (7942)	1/22/1998 5:08:00 PM
From: Alomex	Read Replies (1) of 213173

Here the large buy must have reduced supply and then being it was a "buy" it subsequently reduced price . The price goes up because of the impending order. The order gets filled at the day high. The new high brings in new sellers which before thought that the price was too low. The price then backs down somewhat until new equilibrium is established. This second new equlibrium is higher than the one before the buy. Have a look at the day chart in Yahoo: equilibrium at $18.75, buy order 200K at 1:00 pm, spike to 19 1/8, equilibrium at $19.00. Equilibrium at $19.00, move up to $19.50 because of leaked notice of the impending trade, spike at $19.75 because of 600K buy, equilibrium at $19 3/8.

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