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Strategies & Market Trends : Rande Is . . . HOME
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To: Peter C. who wrote (6697)5/13/1999 1:22:00 PM
From: Rande Is  Read Replies (1) of 57584
 
Peter, I have given quite a bit of thought to your question. . .

My hypothesis is this. . . someone. . .[probably one us due to it only being 65k]. . .placed 65K up for sale at 3 1/16 BEFORE the market opened. . . all or none

THAT is why it immediately opened lower by 10-20 percent, yet the trading logs show that no big selling occurred upon this open. It tanked the stock in much the same way that short-sellers work by placing huge sells near the ask and just work it downward.

There is no evidence that I see that gives reason for the stock to have so much trouble this am, except for that one sell.

Now who would sell 65k all at once? Certainly nobody that has a brain, since it is well known that big blocks tank. . . certainly it was not a short sell, because again, it happened before the bell and before a clear direction was given. . .and 65K is hardly enough to attack a stock with unless you are looking to lose. . . .you need at least a half million to move a stock like this one with the current buying volume.

So my belief is that it was probably a very very very greedy person that bought in fairly cheap [under 1?] and since they were getting out anyway, could care less if their sell tanked the stock.

Rande Is
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