Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : ACNS: American Communications Services -- Ignore unavailable to you. Want to Upgrade?

To: Ruth Macellari who wrote (76)	2/4/1998 2:56:00 AM
From: Satalink	Respond to of 102

I have looked at the volume. It appears as if somebody (a bored broker) was trying to nickle and dime the Market Manager. It a null win tactic. Order 100K share Buy. Ten minutes later, Sell 100K. That ocurred at three times today. What they're trying to accomplish is to shake the Market Manager. If the MM raises the price to account for the buy orders too high then profit is made. You can see where he left some shares in the bag and took them minutes before the close of business. Actually, whomever it was, mindlessly rose the price of the stock 3/16 when it should have fallen about a 1/2 point. If you subtract his shares from the day there were only 140k traded. By 11:00AM there were only 9K traded and then he made his first move which pushed the volume over 366k. I wouldn't get excited. ACNS is late in releasing their annual report. Which generally means bad news. Good luck to all... I'm holding my grounds.