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Technology Stocks : Open Market (OMKT)

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To: TWICK who wrote (745)	11/30/1998 6:17:00 PM
From: Herschel Rubin	of 2004

Anybody notice the MarketMaker-induced drop into the $16's shortly before the close? I view this as bullish for the open tomorrow because MM's brought the bid down so they could scoop up people's stop-loss orders for their inventory! Then, notice how they tidied things up quickly with a $17 1/2 close? The brief dip before the close didn't necessarily coincide with any other fundamental factor: The market averages were gradually going lower and there was no news announcement (to my knowledge) to warrant the quick drop from $18.50 to $16.25! Therefore, we conclude it must have been pure MM activity. Clearly at today's open (up to $26), the Market Makers got broadsided with buy orders and had an inventory imbalance. CNBC's 9:10 am EST interview with OMKT CEO, Gary Eichhorn, should be a definite plus, right before the market opens. Historically, the first few days of every month are usually positive days for the market as individuals and corporate pensions plow monthend 401-K funds into the market. Good luck to all tomorrow. Anybody think we will see $30 this week?

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