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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: Cosmo Daisey who wrote (344)	12/30/1998 2:49:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 41369

Cosmo, stop with the MM's!!! The vast bulk of shares are traded on the NYSE. You can check the total volume figures through nyse.com No MM's. They are specialists. And as you said, the stop orders are not visible there. That is a NASDAQ phenomenon. But given that, it is impossible to generate a scenario for profits induced by selling. Suppose I am a portfolio manager a "PM" and one of several hundred to boot, and let's say I have 5MM shares of AOL. Suppose the price is $150/share, and I start selling, so I end up pushing the price down to $140. Now I begin buying, and guess what? The price moves back up. The scenario you are pushing is basically a stampede, and trying to start a stampede with a momentum stock is just plain dumb because as in real life stampedes, the direction of the heard is unpredictable. The only way your scenario works is through illegal collusion which is made very difficult (and probably easy to trace) by NYSE rules. If AOL were a thinly traded NASD stock it would be easy to move the price using bogus trades designed to pick off either the short sellers or the stop losses. But outside of the unsupported claims being made about this for volatile stocks, there is nothing to lead me to believe that the portfolio managers are manipulating the price of the stock to the detriment of the small shareholder. TTFN, CTC

To: Cosmo Daisey who wrote (344)	12/30/1998 3:59:00 PM
From: somethingwicked	Respond to of 41369

Keep it up Cosmo! I love a good conspiracy theory.