METRICOM - Wireless Data Communications Message Board

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Technology Stocks : METRICOM - Wireless Data Communications

MCOM 0.0165

-8.3%

Dec 12 3:02 PM EST

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To: Peter H. Hodge who wrote (1583)	7/22/1999 1:28:00 PM
From: AJ Berger	of 3376

That's not the way I see it. MM's raised the bid on MCOM to see if there were any more shorts they could shake loose on the day. when there was negligible short covering up there, they had little choice but to lower the bid enough to attract new buyers again at a lower price. They pulled the same trick on NOPT this morning. So the next time you see much higher bids on no volume, you'll know what it probably means, namely, that MM's have given up making the shorts cover, and the stock has no where to go but further down from there. It makes for a great bias indicator if you notice it correctly.

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