Egghead Computer (EGGS) Message Board

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Technology Stocks : Egghead Computer (EGGS)

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To: Barry A. Watzman who wrote (4266)	12/1/1998 9:38:00 PM
From: HECTOR RUBERT	Read Replies (1) of 8307

A bit more focus and you'll be rewarded.... There is no doubt in my mind that MM's were directly involved to Monday's crash. While we were rallying, the MM's were shorting 'cause they knew about the news release of tighter margins on net stocks. Their shorting positions added more shares to the pool and when the buying slowed the crash was on. It was so fast that all stop loss orders were executed 20,30, even 40pts lower. We will have another big rally before Christmas. Trust me!!! MM's are making money on the way down until a base is set. Once this is done, they're going to add to their positions BIG TIME. However, once the next rally takes on I suggest everyone sets a benchmark to get out. MM's want one last rally before cashing their chips before Christmas. I expect us to go to $38 in the next rally, maybe a bit higher. However, I will take my winnings for Christmas a day before MM's take theirs. Next week will be a totally different picture but remember, don't get greedy and set yourself a good benchmark. There will be another buying opportunity in early January. IMHO Hector

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