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To: Andrew H who wrote (1259)7/14/1998 8:10:00 PM
From: MeDroogies  Read Replies (1) | Respond to of 2534
 
What is the likelihood that some of the original P&D fellows, who pumped the stock up originally, are dumping now to free up cash? That would not account for all the selling, but could be enough to lead MMs to think they can shake, shake, shake.....
If I'm an MM, I see a solid company that has yet to realize its potential, making it the perfect short. It ain't moving till a whopper of a deal comes in...or solid financials are announced.



To: Andrew H who wrote (1259)7/14/1998 9:23:00 PM
From: b. f.  Read Replies (1) | Respond to of 2534
 
They aren't,

"To: DrMedina1 (916 )
From: DrMedina1
Thursday, Jun 18 1998 6:20PM ET
Reply # of 1259

The one thing that was left out of the article was the end of the month accounting, which insures that MM's CAN'T short forever.

Yum, yum, yum, Shortie. Love to eat those 1-1/16 phantom shares. Had a nice little snack on them today. Funny thing -- even though they don't exist, they're just as nutritious as the real thing.
I see the asked is moving up again. How nice! Bring it down again and we might do some more business. I've got all the time in the world -- and you don't. See you July 1.

Cookie!

To: Glen Abbey (1207 )
From: DrMedina1

Friday, Jul 10 1998 3:51PM ET
Reply # of 1260

Re: Closing the ring on shorts. The NASD regulations, which I have read, say that the accounting is due on the first settlement day after the 15th of the month. However, sources within the industry tell me that the accounting is done on the third (or next to last) Friday of the month. So that leaves three possible dates in July: the 15th, the 17th and the 24th.

I regret that I have been unable to conclusively establish which date is the correct one. However, I am certain that the accounting is required, and must be rendered, and that all of the possible dates will arrive in due course.

To: Y2k_fan (1239 )
From: DrMedina1
Tuesday, Jul 14 1998 1:26AM ET
Reply # of 1260

This is the third week of the month, when the MM's must report their short positions. You can expect them to do everything they can to knock the price down to shake shares to cover their shorts before the report is due."

Apparently the good doctor has finally found out that this is the week that all the short covering will happen.

Price declines in a stock are, especially on the internet, usually blamed on MM's shorting and manipulating the stock. While this may be true in some cases it is not always the fact. Hypesters especially resort to this tactic. These people create a common enemy on the thread to distract people from what is really going on and foster a sense of belonging to a group with a common cause this encourages them to hang on to the stock as it is going down, turning a small loss into a large one contrary to the way that you make money in this business.
I used to own the stock but sold out some time ago when the company started coming out with lame announcements with the volume increasing and the price dropping at the same time. There may be something to the company but there may also be another agenda as well, perhaps cheap shares coming out. Insiders and others have ways of selling shares through third parties without anyone knowing it won't show up on the insider sales posting. I am interested in the outcome of the drama.
Regards