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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: Robert Gintel who wrote (9847)	9/9/1999 12:39:00 AM
From: David H. Zimmer	Read Replies (1) \| Respond to of 20297

Nice pick-up. They put a short term lid on the stock mid-day about $38 3/8. They supported the stock for a short period around $36 3/8, driving it back up a little bit then took it down. This is very similar to the pattern which they employed between the prices of $28 and $33. As we have witnessed, these traders are professionals. They have the ability to "box" a short position, first buying at lower levels, then selling short, completing the "box" at what they perceive to be a top, then "cutting the legs out" of the security by selling out their long position in a thin market. I wish I had their fire power. It appears that they are working off a short term MACD trading philosphy and look for points during the trading day where the book is thin on the downside to implement their activity. Cantor Fitzgerald employs their own capital to implement these transactions. They seldom take positions in securities that they are not willing to hold long term should their entry point be too early and the price of the security subsequently decline. In essence they are what can be called "ladder" traders. Look for them to buy up the stock in the morning and when they are ready, take it through the next resistence level. OT: The President and CEO of INTF will be in town in the near future and looks forward to meeting you. It was his intention to make a visit to Greenwich tomorrow but meetings at headquarters with IBM precluded his travel plans. As always Robert, a pleasure to interact with you in this format and for your guidance in the handling of this thread. TLindt may be the "Daddy" of the thread but you are a true leader. Best wishes as always. I'll speak with you in the morning.