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Technology Stocks : COM21 (CMTO) -- Ignore unavailable to you. Want to Upgrade?


To: Si_Detective who wrote (1305)12/8/1999 7:21:00 PM
From: Spaw  Respond to of 2347
 
J-
Panic selling it was.
I was REALLY panicking trying to unload my options as they
evaporated. Got out of some with a profit before the perilous slide.
It seems most likely that this was based on some inside knowledge.
However, in a market like we have been enjoying, speculation is widespread. This type of price action is what you would see when speculators liquidate, and try to jack their enemy around.
Whatever the case, it was no doubt someone with a large position to unwind, coupled with no bidders.
Astounding in its intensity. I've only seen a few like this in the past... Parametric, Advanced Fiber, OnSale(the worst ever).
Hopefully, those long will not be selling too much into any strength in the morning out of fear.

My $.02,
--spaw--



To: Si_Detective who wrote (1305)12/8/1999 7:25:00 PM
From: Srinivasan Balasubramanian  Respond to of 2347
 
For the record I placed an after hour buy order at around 17 and they have not filled it yet. Obviously in the AH the prices firmed up as the session progressed. Also sell stops are more devastating than stop limits as they get executed as market orders and MM's will be risking a lot to support the stock ahead of certification tomorrow.