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Technology Stocks : IATV-ACTV Digital Convergence Software-HyperTV -- Ignore unavailable to you. Want to Upgrade?

To: redwood who wrote (1503)	4/8/1999 10:04:00 AM
From: dwight martin	Read Replies (1) \| Respond to of 13157

If uwanna buy more ubetta hurry

To: redwood who wrote (1503)	4/8/1999 10:06:00 AM
From: Mike Fredericks	Respond to of 13157

THEORY: People had a bunch of sell stops around 20. People had a bunch of stop-losses in the 16's, figuring that if it slipped any on the open that they'd protect yesterday's profit. Additionally a bunch of people had put "buy at market" orders in pre-open. The imbalance of buy orders pushed the open well higher than yesterday's open. The sell stops kicked in. Maybe some shorts as well. There wasn't any retail buying support that high just yet, so the stock started to fall. As the stock fell, retail people sold (I would have). Then the stock fell enough to start picking up the sell stocks, so the MM's whipped it down to 16 1/4 at which point the stop losses were gone and the shorts from the 21 range closed out (quick 5 point gain, not bad) and people, seeing the rebound from 16 1/4 up to and past 17 started buying again. Of course last quote I saw was 4 minutes ago at 17 1/16 x 17 1/8, I just checked and it's back to 18+. Just a theory, I don't have Level 2 or anything like that. -Mike