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

To: ahhaha who wrote (20917)	4/15/2000 10:53:00 PM
From: MIKE REDDERT	Read Replies (1) \| Respond to of 29970

I was focusing only on the type that I put in bold... the rest of the comment is irrelevant... sorry for the confusion. I understood the bold type in that passage to mean that any buying would seek out supply booked at higher prices. In that particular passage, the seller wanted to buy at the 140 quote, but the MM needed to take it to 144 in order to absorb enough shares to sell it to the buyer at 145. As other potential sellers saw that 100K sold at 145, they would raise their booked limit higher, causing the MM to reach farther up the price latter to fill other orders. Thus, booked selling causing the price to go up. That is how I understood your argument that selling creates the price appreciation. If this is not your point, then I am still unclear what you mean when you say selling causes the price to go up.