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Technology Stocks : 3DO: Hot Games for Hot Machines (THDO) -- Ignore unavailable to you. Want to Upgrade?

To: (Bob) Zumbrunnen who wrote (4033)	11/6/2001 9:56:45 AM
From: (Bob) Zumbrunnen	Read Replies (1) \| Respond to of 4081

Whoever is buying this stock right now (and there's a LOT of buying) apparently doesn't have Level II. If I were in a position to, I wouldn't buy one more share of this stock until RSSF gets off the offer for a long period of time. They've apparently got a huge quantity to sell and were on the offer all day yesterday and are there again today. They show 1000 for sale and as soon as it gets bought, there they are with another 1000. If the buyers would wise up and just stay the heck out of the way until RSSF is done, they could get it a LOT cheaper. No idea how much is for sale, but if it's hundreds of thousands of shares, this could easily get close to a dollar if the buyers would just wise up and back off. I'd say let 'em come down to 1.50, then down to 1.00, a dime at a time and see if there's a price at which they're no longer selling. They're not desperate to get out (ie. hitting every sizable bid), but with $1.60 being their price now, and sitting on it with an unknown quantity for a very long time, I would definitely steer clear until they've gotten out. This is reminiscent of when an INCA seller was all over it from $17 down to below $10. Made zero sense to buy it then if you were watching Level II and makes zero sense to buy it now when RSSF is doing the same thing. Let it get cheap enough that someone with deeper pockets decides to relieve RSSF of the rest of their shares. When that happens, I'd take a 100% position but watch it closely in case the RSSF seller knew something we didn't. I never give stock "advice", as I feel I'm one of the dullest spoons in the knife drawer when it comes to the market, but if anyone were to ask my opinion about this one and I knew they were going to do what I suggest, it could be summed up as: "Do NOT buy this stock yet. If you want the stock, wait until RSSF is no longer selling it. When they're gone, buy it. You'll either end up paying a few more cents (depending on how long after they're gone you wait), or find it's trading a LOT cheaper and too far away from current levels to quickly get back here. But when they're gone, I'd consider it at least a very strong trading buy." Bid/Ask volume is proving my point, too. So far today, 7700 shares have traded at the bid and 50600 have traded at the ask. About a 7:1 ratio. Foolish buyers.