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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Jess Beltz who wrote (18804)	1/13/2000 9:19:00 PM
From: Schmedley	Read Replies (1) \| Respond to of 29970

Jess Fat chance we'll even see a (real) $40 share price again. Todays action was a confirmed breakout of a long term bear trend and precisely what most "investors" are looking for. Add to that the rarified atmosphere created by the AOL/Warners deal and you get a short sellers nightmare (approximately 16 million shares are currently short).What your students saw was the typical kind of machinations that have become all too common in after hours trading; a few people take advantage of the "silence" on the ECN to swap shares between themselves at ridiculous prices (in this case, as much as 5 dollars off the previous sale) only to settle between themselves later in private. It's all the better for them if they can sucker in a few small time day traders to buy or sell to at their new artificial price..(This is the same game that the market makers have played for years albeit with more of a reckless abandon) The fact is, that the big guns (the MM's) chose to close the stock at 42 9/16 today. Barring chapter 11 it's highly doubtful they would tank it 6 points on the open just for grins - They can't risk getting clobbered by the institutional funds that will be re-committing to the stock.