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Technology Stocks : Creative Labs (CREAF)
CREAF 0.448-4.6%Dec 17 12:59 PM EST
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To: Power ranger who wrote (13146)12/17/1998 9:10:00 PM
From: Dennis G.  Read Replies (1) of 13925
 
PR, I don't believe that CREAF is restricted to buying at the bid. I believe they can and do mostly buy at the ask. I believe they are only restricted from increasing either the bid or the ask. But if someone else raises the bar, they can move up too.

I glanced at todays intraday chart and you can clearly see the little dip at 3:30 when CREAF stopped buying. I think they were buying all day long since 10 am, so I was clearly wrong in saying that they had bought their last shares. I think they will be buying tomorrow also. In fact, they have really been the only buyers of this stock for the past two weeks or so. That is the real problem. No one else seems to want it now, even at 15 bucks.

It's almost comical the way people are stepping over each other trying to get out of this stock by 4 pm tomorrow. It's like they think CREAF will turn back into a pumpkin or something. Like it's the end of the world as CREAF knows it.

There seems to have been another snowball of selling pressure with the imminent end of this years buy back time, coupled with tax loss selling and overreaction to the TDFX move. By this time tomorrow, everyone who wants out will likely be out, which should mean it's the bottom. If everyone is expecting the stock to tank further during the quiet period, it may very well surprise them. The market has a way of doing that sometimes. We shall see.

Dennis
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