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Technology Stocks : Neomagic Corp. (NMGC) -- Ignore unavailable to you. Want to Upgrade?

To: vincenzo who wrote (2537)	2/16/1999 3:57:00 PM
From: Mad2	Respond to of 3645

What does one make of upward movement on WEak volume?

To: vincenzo who wrote (2537)	2/16/1999 4:05:00 PM
From: Eddie Kim	Read Replies (1) \| Respond to of 3645

What's wrong with this stock? I've been watching this things for about a year now, and it always seems that someone is controlling it. Given today's light volume, it wouldn't be hard for a MM to drag the stock down. The question is why? I noticed that last Friday that NMGC "tanked" during the final minutes. I asked my friend, who is a MM, about this. I didn't tell him about NMGC specifically...I just told him the situation. He said its a common MM "trick" to Jam the price down during the final ticks if there's a big seller. The MM buys the sellers stock on the very last tick at a cheap price. In addition, I asked my friend how long he usually has a position in a stock. He said usually intraday, but sometimes as long as a week. The question is: Why would someone drag this stock down? If a MM wanted to short this puppy he would just pop it up in the morning and short it (How many times have we seen this with other NASDAQ stocks). If he wanted to go long...the MM would just pop it down a couple of points in the morning. Given NMGC light volume, a MM could do both very easily stating that there were no sellers or buyers, respectively, as justification for his action.