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Politics : Ask Michael Burke
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To: Ilaine who wrote (38925)12/10/1998 11:25:00 AM
From: Ilaine  Read Replies (2) of 132070
 
Promo on CNBC report on shorting Internet stocks inaccurate. It was still interesting, but the pundit was explaining why the prices ratchet up. He says there are a large number of market makers, they get orders, can't communicate with each other, and sell shares they don't have, then have to make them up with buys, which ratchets the price. He claimed that concerted action by one NY firm caused AMZN to rocket up 70% in August.
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