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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (11097)	6/20/1998 2:31:00 PM
From: uu	Respond to of 14631

Short interest went up by 10 million shares (or about 120%) last month to over 18 million shares!! See viwes.com . Just think the slightest good news and/or an earnings surprise and how horribly (but nicely!!) the shorts are going to be squeezed! This stock can jump Big Time at the sight of any good news. Regards, Addi Jamshidi

To: Robert Graham who wrote (11097)	6/22/1998 10:01:00 AM
From: Stewart Elliot	Read Replies (3) \| Respond to of 14631

Robert, At some point your many comments about MM manipulation become a bit on the far fetched side (my securities friends would be more harsh on you, but for diplomacy sake, I'll keep my comments tame) At any one time, IFMX has between 20-40 MMs (you often talk of this one really good one, who seems to be singlehandedly moving the stock up). IFMX trades on Nasdaq, which is an electronic system. These 20-40 MMs don't speak to each other - they are in different office buildings, and they can all see each others bid-offer spread. The only way one guy could really raise the market offer is to pay ALL the others MMs that are on that offer, or put in a bid for some ridiculous number of shares at a slightly higher bid, with the hope that every other MM offering shares decides its time to bail out. Of course, the first MM risks buying all these shares if someone (eg, another MM or shareholder) who actually wants to sell that much hits his bid. This is a gross generalization, but the point is that no one MM on a relatively hi-volume stock like ifmx could corner the market on the stock and begin some devious stock price manipulation at the level you repeatedly point out in your posts. Any other scenario is just plain collusion, and it just couldn't happen on a daily basis between 20-40 MMs. Most of the sanctions/complaints with regards to NASDAQ have to do with bid/ask spreads, but most of these complaints were directed at the more thinly traded stocks. I suppose there is some minor trading manipulation when options expire, but this doesn't explain the type of activity you claim in your posts. As one of my friends point out "There's way too much legal business for these companies to risk losing it all by illegal activity. If, for example, Coke found out that its stock was being investigated due to MM manipulation, it would do everything in its power to see that each and every one of the responsible MMs were fired. There's absolutely no incentive for these MMs to do what this Graham guy claims" Well, my 2cents worth. I felt compelled to post this message because I think it detracts from the thread when every boost in stock price is explained away by the mysterious actions of the MM. Lurking ......