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

To: MIKE REDDERT who wrote (20850)4/13/2000 11:22:00 PM
From: GraceZ  Read Replies (2) | Respond to of 29970
 
. If you sold today, you would probably be so disgusted that you wouldn't touch it again until it reached 70... maybe 80

I predict there will be a lot of people buying CDs at the bank to fund their IRAs, just like after 87. I met my first full service broker when she gave me a cold call a month or so after the crash of 87. I think her pitch was for totally "safe" insurance annuities and a free lunch, so I bit....on the lunch part, not the annuities (those people really got screwed, they were variable and they did).



To: MIKE REDDERT who wrote (20850)4/13/2000 11:37:00 PM
From: M. Frank Greiffenstein  Read Replies (1) | Respond to of 29970
 
Tired of the MM nonsense...

Mike, the MMs do NOT have the capital to defend stocks. At last count, all MMs and brokerages had a total of 258 billion free cash (source: NYTimes). The market is (or recently was) 14 trillion in size. No MM is going to stand in the way of a crashing bull by buying up tons of shares. This is even more true now then it was in the "old days" before the government and lawyers forced narrower spreads on MMs. There is not the profit there used to be, only increased volume has kept MMs profitable.

The bottom line is this: No MM is going to gobble up ATHM at ANY point, and if someone tries, they can't possibly stop a stock that trades millions of shares a day. MMs see the writing on wall, with ECNs just matching selling and buyers.

DocStone



To: MIKE REDDERT who wrote (20850)4/14/2000 12:11:00 AM
From: ahhaha  Read Replies (2) | Respond to of 29970
 
The MM's aren't taking stock for their own accounts. They're working orders for clients. An MM mostly gets involved when there are holes. They must plug them. Few if any holes in ATHM today.

You should do what you said. Stay away. The market is too unstable to trade now.


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