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Technology Stocks : eBay - Superb Internet Business Model

EBAY 82.47

+0.4%

Dec 5 9:30 AM EST

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To: Howard Hoffman who wrote (1587)	2/5/1999 11:26:00 AM
From: Timoteo	Read Replies (1) of 7772

Pump and dump is easy to accomplish with small float stocks and cooperative MMs. Typically, good news is released but it can be done on no news. Market makers trade the stocks between themselves, stepping up the price. Single traders with deep pockets can even do it, trading between accounts with buy and sell orders to create demand. The idea is prop the price, generate momentum and then distribute stock into the strength. Maybe the EBAY action is just coincidence, plus the daytrading crowd, but I doubt it. Look at the number of shares traded above say, 255 on the up Wednesday, and then look at the number sold from the open down to 255 yesterday. Pump and dump and somebody gets left holding the bag. If you look at my post last night on Roger's Short Picks about EBAY you will see it behaved exactly as I thought so far today. More evidence of pump and dump IMO. Best, Timoteo

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