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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (105928)	4/15/2000 4:32:00 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 1570970

RE:"I am starting not to buy this margin call reasoning. Yesterday it was reported by several independent sources that the markets' price decline was not due to overselling but to an absense of buyers. Volume was relatively normal for a Friday. This may sound like paranoia but I feel more and more that this decline was orchestrated." If there are no buyers the MMs have to drop the price until there is. For every transaction there must be a buyer and a seller. One difference between the NASDAQ and NYSE is that the MMs on the NYSE are obligated to step up and buy the stock for their own account to stop a free fall, if need be. OTOH, on the NASDAQ, a MM can just push back from the computer and let 'er fall. This is one reason the NASDAQ is much more volatile than the NYSE. I think the margin call scenario pretty valid. I'm still working on the floor of this drop. Right now it's looking like 3050-3125 "if" we drop out of the gate on Monday with an outside shot at 2940. The DOW should stop dropping no later than a little less than 10,000. After "the bounce" the DOW and NASDAQ could go a lot lower. I have some levels but I don't want to scare you to death. Should we get a good reversal pattern in the meantime I will go with that rather than fight for my levels... Jim