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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: puffpuff who wrote (13885)	11/8/1999 12:26:00 PM
From: GraceZ	Read Replies (3) \| Respond to of 28311

what has charter ipo do with gnet going down You have to understand that momentum players go in both directions. If they decide to go long at 69 with a 75 target and they reach that in two days or ten minutes, they sell and sometimes take a short position at that time. Then they load up again when it hits "support" and will do it all over again. Perhaps when they saw that we didn't really have the volume today to support such a big move early on, they bailed. We were at mid-sixties a few trading days ago, so 77 looks like a good "short term" target. Secondary plays on an IPO are less of a sure thing for a momentum player and they don't like being out there long without everybody else (no volume). When they exit, they take the price with them (with low volume even a little selling pressure moves the stock down big). I can't tell you how many times I've been through this in ATHM....which (last time I checked) is up on yet another take-over rumor!