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Technology Stocks : CrossComm (XCOM)Help buy/sell/hold ??
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To: Miles Baker who wrote (5)1/17/1997 8:47:00 PM
From: Simon Econovich   of 46
 
The trick is to figure out WHO that somebody is. If the public is buying and
the market makers are selling it short (i.e. really *giving* it to the public),
then the stock will soon collapse because the market makers will take it there.
Conversely, there could be a lot of shorts being attracted right now. And if
the public is short and the market makers are long, nothing short of an act
of God could drive the price down. I think the movements following todays action
will be very telling. Next week we should be able to figure out were its going ... hopefully we'll get the chance. Sometimes the market makers will run these
things up for no reason other than to attract buyers at high prices. Then they'll bring the price right back down and just park it. The former buyers will
then sell at a loss (profit for mm's). If, on the other hand, its a takeover,
the mm's will tipically crank it up, then bring it back down to entice anyone
who is long to taking a profit (fearing it will continue to go down). Time will
tell.
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