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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: ajbrenner who wrote (1828)	7/21/2000 4:05:09 PM
From: Joe NYC	Respond to of 275872

ajb, I think the option buyers and sellers are the stock manipulators (as are the stock buyers and sellers). Because every transaction has some influence on price. (Hint: there are no "big guys" that everybody is talking about). Joe

To: ajbrenner who wrote (1828)	7/21/2000 4:11:43 PM
From: Paul Engel	Read Replies (1) \| Respond to of 275872

ajb - Re: "Just wondering if you subscribe to the theory of AMD stock price manipulation heading into options expiration or are you of the school of thought that says a 10 point drop after better then expected earnings is just normal market gyrations?" You seem to be taking the drop in AMD rather personally. Why is that? The whole market is down - especially the tech stocks. AMD isn't a leader in any market segment they participate in - so why should AMD be immune from a pull back? Paul

To: ajbrenner who wrote (1828)	7/21/2000 5:48:16 PM
From: Epinephrine	Read Replies (4) \| Respond to of 275872

RE: <Just wondering if you subscribe to the theory of AMD stock price manipulation heading into options expiration or are you of the school of thought that says a 10 point drop after better then expected earnings is just normal market gyrations?> ajb, I am not saying that there isn't option based pressure on the stock but I do think that the 10 point drop is definitely not entirely due to options and has a very large earnings twist to it. For reference here is the historical data from the days following last quarter's results. AMD nearly doubled estimates if I remember right and options expiration was a week away (April 21st) Date Close Change April 12 76 (Earnings released after close) April 13 71 -5 April 14 66 -5 April 17 72 5/8 +6 5/8 April 18 79 +6 3/8 I know those whole number closing prices look odd but they are the actual closing prices that I see in my historical data. (investor.msn.com), You can verify them yourself if you want but I think that they clearly show that the drop today and yesterday cannot be definitively attributed solely to options expiration. In any event I hope that the April pattern continues to repeat, that should make for a good Monday :) Regards, Epinephrine