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To: Little Engine who wrote (924)3/9/2000 2:01:00 PM
From: JP Jouver  Read Replies (2) | Respond to of 1063
 
LE,
I don't think I posted any "hype" in my last two notes, did I? Please point it out if I did. I try to avoid that BS.

You're the self-titled "expert"---give me your take on today's action. If we assume that the MM's take no personal interest in a stock and simply fill orders, then we have to believe that the buyers today:
---didn't want any stock at the open (<20k shares)
---then they all of sudden started buying
---for no reason, they tripled the rate of buying after about an hour and half

Oh, wait. Everything I referred to as "buying" must have been completely equal buys and sells, since the price didn't move at all. So the buyers and sellers were not only working in unison, but their rates of buying and selling co-insided (freaky!).

---then at lunchtime every seller must have stopped simultaneously so that the few buyers left were able to move the stock over 20% on insignificant volume

Wow. That's sounds even more implausible than the evil-MM theories, IMHO. But I'd love to hear you explain all of these wild, yet co-ordinated, swings in investor interest today in light of the complete absence of any news or significant corporate changes.

I'm waiting.

Jape