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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (14318)	1/14/1999 7:54:00 PM
From: t2	Read Replies (1) \| Respond to of 74651

It's called futures driven sell programs and naked call selling on the Morgan Stanley High Tech Index (MSH or "Mush") These often result in huge snapback rallies as the shorters must buy stock to cover Trufflette, I don't get it. What is achieved by this strategy? I guess the sellers are hoping for losses to continue to get some benefit from this activity (am I right?). Otherwise, I don't see what is gained. I am not familiar with many complex options trading strategies. Thanks. BTW--I have noticed this happening the last 2 days (yesterday the stock dropped off in the last half hour)on somewhat light volume considering that the last 1/2 hour is supposed have heavy volume.