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

To: ahhaha who wrote (20918)	4/15/2000 3:48:00 PM
From: E. Davies	Read Replies (1) \| Respond to of 29970

We've long been mystified as to why you feel price migrates towards the mass of booked orders rather than away from it as intuition would say. Here's another shot at it- tell me if I'm getting warm. When I trade small illiquid stocks there are times when even my measly resources are enough to move the market. I'll want to buy a couple thousand shares at 8 and all there is is 500 offered with another 500 at 8 1/4. I need to buy all the way up to 8 3/8 to get my 2000. So what do I do? I don't buy at all. I go looking for something else. I imagine that big money has similar problems routinely. Imagine you want to buy 200,000 shares of ATHM. You are only tempted to do it if you can get those 200k roughly around the current price. You need supply booked above. Make sense? If not- I'd sure like you to take another shot at it. Eric