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Technology Stocks : USRX
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To: yxmas who wrote (5854)12/3/1996 4:24:00 PM
From: Dwight E. Karlsen   of 18024
 
yxmas: I'll give you my opinion on your question: >Why the extremely low volumn before 10:30 can drag down USR's price so much, while the heavy volumn appeared after 10:30 can not push it up as much as it drop? Is it because of market maker's trick?

First off, it didn't go down on extremely low volume. USRX average daily volume is something like 1.5M shares, according to the WSJ Interactive Edition. It had already turned over 6M shares when it was still down 5 points early in the day. That's very high volume.

Second, even if the volume is light, if the sellers far out-number the buyers, the market-makers are correct in lowering the bid/ask: the supply and demand rules the price. Also, from what I've heard it is difficult for MM manipulation when the volume is this heavy.

Regards, Dwight.
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