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Pastimes : Richard Ney and the Wall Street Gang -- Ignore unavailable to you. Want to Upgrade?

To: BenYeung who wrote (70)	12/20/1997 5:25:00 PM
From: ccryder	Read Replies (2) \| Respond to of 492

I can't help with the opening, generally. I looked at the 1 minute plot of JBIL. The price was hovering around 35.5 until about 11:10 when there was a volume spike of 100K. The price quickly went to about 38 and stayed around 37.25 to 37.5 for half an hour, and then more slowly ramped to 39.5 and closed at 39. The JBIL specialist must have cleaned out the sellers by covering and buying inventory at the 36 level. Then he held the price at the 37 level letting the suckers, err market, react and then was able to sell inventory then sell short. He sold to the buyers who placed limit orders which is why he dropped the price. My prognosis: He will short shares at this higher price early Monday and drive the price downward so he can cover. Counter indications come from the stong showing of KLAC Friday. For JBIL price to drop, he will have to do his short selling fast to drop the price early, probably in concert with other tech stocks. This specialist LOVES limit orders.