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Technology Stocks : Dell Technologies Inc.
DELL 127.90-4.4%3:59 PM EST
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To: Eddie Kim who wrote (72951)10/19/1998 5:59:00 PM
From: SecularBull  Read Replies (1) of 176387
 
Eddie, I find myself in the uncharacteristic light of agreeing with you (at least in part).

I am convinced that MMs have an overwhelming amount of control over the prices of stocks. It is only when the tide is too much for them to control (huge volume and price moves), that they don't have this control. Even then, though, they get it back at some point to limit their losses further.

For instance, if the Fed had not lowered rates on Thursday, I'm convinced the MMs would've held the price to <$55. However, the upward pressure (being too much for them to manipulate) blew through $55, but they were able to hold it under $60. They probably even sold 60s covered calls, just to get some of the losses at $55 back.

MMs are a very powerful force in the markets, and we must all take that into account when placing our bets.

Regards,

LoD
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