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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Jim Patterson who wrote (44481)	5/22/1998 5:40:00 PM
From: jim kelley	Read Replies (1) \| Respond to of 176387

JP, Maybe they are just trying to own the stock not jam it.

To: Jim Patterson who wrote (44481)	5/22/1998 11:41:00 PM
From: Bilow	Read Replies (1) \| Respond to of 176387

Hi Jim Patterson; About: Despite a huge buying for about 6 minutis close to the close, a sign that some one is trying to JAM the stock, it looks like some supply came in to meet the buying. I was watching this stock, as well as MANU on a Level-2 Naz workstation, and I think I saw the same thing happen in both stocks. When institutions are heavily selling a stock, they tend to move it to a low level, and get rid of all the shares they can at the ask. This gives them a better price than if they instead dump on all the market makers at the bid. Consequently, stocks tend to develop a tic-chart that shows obvious and clean resistance prices but no clean support prices. (Note how MSFT had beautifully balanced support and resistance prices today, and didn't suffer institutional selling. On the other hand, COMS has been sold hard by the institutions for quite a few days.) Around 10 minutes before the close, the institutional sellers pack up and go home. This allows the stock to rebound and do some wild stuff in the last few minutes of trading. In other words, all that is happening is that the institutions with the big, stabilizing, limit orders cancel their orders a few minutes before the actual market close. With MANU, they will be back on Tuesday, I suppose. I don't know what will happen to DELL, the thing to look at is the ratio of number of shares. But looking at the 52-week low on DELL, you have to imagine that the price could drop pretty low and still have plenty of institutional players with profits on the table. "Never let a profit turn into a loss." is the usual ancient, revered and oft quoted trading maxim. -- Carl