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Technology Stocks : SkyMall (SKYM) -- Ignore unavailable to you. Want to Upgrade?

To: milt who wrote (26)	12/8/1998 7:25:00 PM
From: GT	Read Replies (1) \| Respond to of 987

I know how short the mm's are because my time of sales has a measurement of money flow into or out of a stock. Basically, my service shows a net inflow of $2,681,000 dollars today - most of which took place after the lunch time news hit. This is then in theory the amount the mm's must be short, minus any shares they held in inventory. I doubt they had much - with an average daily volume of 36.3 thousand shares they are probably short almost this entire amount. Now in order for the mm's to make this money back they in all likely-hood will take SKYM way up there, sell a whole lot more shares at a much higher price, and then bring it lower in the hopes of buying back those shares at a lower price. This is the mechanism by which these internet socks have gone from $3 to $45 in three days etc. If they don't raise the price right away, they will be forced to sell to all those who want to buy at these levels where they will have little if any chance of buying back later at a level low enough to break even. This sounds like theory, but is really behind the movements of all stocks imo. Gorcon