K-Tel (KTEL) Have the cheesy '70s records come to an end? Message Board

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Technology Stocks : K-Tel (KTEL) Have the cheesy '70s records come to an end?

KTEL 0.258

-4.1%

Nov 28 9:30 AM EST

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To: AugustWest who wrote (253)	4/19/1998 1:42:00 PM
From: Peter H. Hodge	Read Replies (1) of 3203

Another observation from Friday's action...from about 10:30 am one Market Maker was selling on the best ask at 24 5/8. They absorbed 99% of the orders during the majority of the day....which was a sizeable volume! The exact second they pulled off the ask at about 3:15 pm., the stock soared. What were they doing? They kept the stock from moving up for about 5 hours. Are they short? Did they have a large insider sell order to fill? With the pent up demand and with that demand causing the stock action to soar like a tightly wound spring that finally broke, I was very surprised to see it top out at about 29 and then retreat. What does that Market Maker know that we don't. I for one feel we will have a substantial pullback on Monday. In fact, it will not surprise me to see a big gap down on the open. After that, who knows?

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