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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: SMALL FRY who wrote (34324)4/16/1999 10:33:00 AM
From: Lane Hall-Witt  Read Replies (1) of 120523
 
Among most of the Nets I was watching, I sure didn't see much conviction on the sell side, despite some sharp price drops. IVIL, for instance, dropped 15 points or so on its first 40,000 shares traded. I think MMs were hoping to play on fears about the market and spark another round of panic selling. They were pretty much able to move prices at will, because I didn't see any buyers out there, either. We'll see some mighty quick price upswings if any serious buying arrives; the MMs aren't going to sit there giving shares away after shaking so few out on the way down.

I'm waiting to see some conviction on the up side before jumping in very aggressively. It looks right now, at least, like the fear has diminished. Now we just have to wait for greed to arrive again--.
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