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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Nick who wrote (11840)	7/26/2000 12:35:20 AM
From: Warren Gates	Respond to of 24042

First of all, index funds need to buy about 70 million shares, not 57. The Merrill Lynch estimate didn't account for ETEK. JDSU has traded about 257 million shares in the last few 4 days. But how can CNBC actually know how many times traders have played it during the 4 days. Several could have bought it on day 1, sold on day 2. That alone would have counted for 4 trades, since Nasdaq always double counts. I still think, tomorrow's move would still depend a lot on how much the market makers have accumulated. They definitely intend to make money on this. If they move this too low, a flood of buys will come in and they may not have enough inventory at the end. It they move it too high too soon, they may run out and would need to short it.