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Strategies & Market Trends : Tech Stock Options

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To: HairBall who wrote (57686)	11/17/1998 10:45:00 PM
From: Patrick Slevin	Read Replies (1) of 58727

Well, following the thread of thought on this I suppose it's easy to hypothesize just about anything. I have the COT data yet have not looked at it. However, <I don't think the S/MMs would make a move that would cause them to accumulate additional shares> ...my understanding is that the commercials were net short going into this week. So accumulating additional shares isn't a bad thing. Taking the market down plays into the Smart Money, just before the announcement, no matter what the announcement was. Presuming my information is correct, of course. I have not bothered to check the data to be honest. That is my understanding, however. When you mentioned manipulation to Don, I would hasten to say I never said that. My post on Tom's thread prior to the cut was very clear in saying that the market was thin, and a run could easily be accomplished. It dropped roughly 5 spoo points in 6 minutes. That's a pretty sharp move for a market that flatlined for hours. Even on a normal day 6 spoo points is a big deal in 5 or 6 minutes. However you or I interpret the action, that's what makes a market, does it not?

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