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Technology Stocks : Altaba Inc. (formerly Yahoo) -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (4683)	12/18/1997 1:38:00 PM
From: scott harrison	Read Replies (1) \| Respond to of 27307

Peter: In addition to earnings bringing down the Yahoo price, a broker friend of mine at Schwab told me today January will bring down the price. I just casually threw out Yahoo and said whaddya think about it... He postulated that the MM's were manipulating the stock until year end since it is up 300 percent. It makes their portfolios look great, and come first week of January "they'd be crazy to stay long." He said the money will be hunting for bargains in this market, not on a stock with SO MUCH downside risk. His guess was low 40's by earnings, then without an earnings surprise, low 20's after earnings. He also said no MM would dream of buying the stock above $20 in January. FWIW. scott

To: fut_trade who wrote (4683)	12/18/1997 1:55:00 PM
From: IKM	Respond to of 27307

Peter, I've been short for a while, and haven't chosen to sit out. My guess is that the short squeeze has already occurred. I don't have Level II, so I can't say for sure, but a lot of the activity in this stock lately looks like the MMs passing the ball around. The spreads have been horrendously wide but still we see a lot of small trades crossing that great divide on a regular basis, even when on average it's trading flat for a while. I don't believe there are that many stupid buyers and sellers ready to eat that much of a spread when there is no clear trend. So my supposition is that they are creating the illusion of liquidity. Lack of liquidity lets a stock move suddenly in one direction or another when there are committed buyers or sellers. The last big move was up, and I've got to believe a lot of shorts bailed to protect their gains from the last big drop - with hindsight I wish I had too, but you pay your tuition. Now the same should happen to the longs if we get an accelerating move down. Just my half-brained opinion.