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Technology Stocks : Audio and Radio on the Internet- NAVR
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To: USRX888 who wrote (538)11/29/1998 6:46:00 PM
From: Stephen Adnan  Read Replies (5) of 27722
 
Does anyone else here feel that there was something ELSE
in the $6 price rise on Friday.

I got in NAVR at $8 and am very happy. However, I got in very early in the morning whe only about 3 million shares had changed hands.

Only Day traders, IMHO, were flipping this. The internet investors moving from MALL to EBAY to ONSL to BAMM to NAVR were holding for the jump on Monday.

For argument sake, can anyone educate me as to why this ONLY rose
$6 on IPO news with 1,000,000 share short????

I truly believe that the MM here was the short seller and he/she held
this price down.

WHO was selling on THIS verified IPO news!!!!!!!!!!!!!

I have not done the research as to how many MMs trade; yet I would not be surprised to find it is NOT a large number as $12 was the price of many of the previous tops (see chart) and I believe that was the price that the MM needed to break even unless he/she was shortig all the way doenw , whic I have haerd happens.

I followed NAVR ALL day on real time and was astonished at the volume yet puzzled at the price rise relative thereto. I have heard from many who indicated that thye put in OPEN market orders in the late afternoon and never got them filed.

I know I should be ecstatic, yet I wonder if anyone else say Friday's price rise in the same light given the IPOnews, validity, netradio, float, NAVR fundamentals and volume.

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