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Non-Tech : Amati investors
AMTX 1.510-7.4%Dec 5 3:59 PM EST
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To: Wade Sickler who wrote (8854)1/20/1997 5:56:00 PM
From: Louis Cornell   of 31386
 
Wade, I say "morning gap" for several reasons:
1) The news came late in the day so the market didn't have time to fully price the news.
2) The momentum of price movement/volume will attract momentum investors (like me)
3) Technology breaking news such as this attracts more Market Makers and SOES bandits.
4) Short sellers who didn't get the news late today will be scrambling to cover at the open, or be getting a margin call sometime later.

I think the extent of the gap is arguable. You said we were up to 15 on Instinet. Looks like a gapper to me!
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