America On-Line (AOL) Message Board

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Technology Stocks : America On-Line (AOL)

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To: Steeny who wrote (16568)	5/11/1999 11:46:00 AM
From: Tom Tallant	Read Replies (1) of 41369

Steeny, Correct me if I'm wrong as I am sure you are more familiar with the this process: It is my understanding that in fast markets to the upside like this morning with large volume...a specialist or MM will short shares from their own portfolios in order to make enough shares available. They will then "walk" the stock down on tight spreads so sellers take quick profits. Once they are able to cover their shorts and their portfolios are more in balance they allow it to run again. Thus...you will see the gap down after a strong open. Regards, Tom

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