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Technology Stocks : Siebel Systems (SEBL) - strong buy?
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To: IceMan who wrote (2036)8/18/1998 5:40:00 PM
From: mauser96  Read Replies (1) of 6974
 
Unlike volume on the NYSE, volume on the NASDAQ often isn't legitimate volume between buyers and sellers. A lot of it is trades between market makers .In fact, sometimes market makers do this to manipulate interest in a stock. Accepting published figures as necessarily being meaningful shows considerable credulity on your part. SEBL volume was twice it's present level back in some days in June and July. As of yesterday SEBL had about 1/10 the volume of a stock like Applied Materials, so I guess "high volume" like most other things in the stock market is relative. Activity on stock market threads like SI and Yahoo may be just as good an indicator of interest of "most investors" as I stated. One sell-buy by a couple of institutions can run up the volume more than a thousand small investors.
FWIW, I am long in SEBL and will probably increase my position if the market falls a bit more. That doesn't blind me to the risks involved in a market that is myopically focused on big cap stocks.
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