MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

-0.1%

Aug 15 5:00 PM EST

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To: Greg h2o who wrote (14186)	6/30/1999 11:57:00 AM
From: Bruce L	Read Replies (4) of 42804

Re: "Three Advancing Soldiers"/technical analysis and the puzzling lack of large trades I also like the look of the MRVC chart from a TA perspective. What has struck me in the last several days is the absence of block trading even though overall volume has been very healthy. For instance, yesterday the largest trades I saw were 6000 shares. In the past 2 months big up movements in MRVC have been associated with block trading. Now the large trades have dried up - at least this is my thesis - and it hasn't hurt us; in fact, just the opposite; we're in a better technical position than ever. So I ask all of you on this thread: Why? I did some simple research on Datek. As of May 31, 1999, institutional ownership of MRVC is 22.7% for a total of 81 institutions. This is down from more than 30% a year ago(as best that I can recall). The largest institution is Wellington Mgmt which increased its holdings 173% to just under 5% of the total shares; followed by Dimensional Fd Advisors (+107%), Knowlton (-37%) and Calif. Pub Employees Retirement (+397%!!!) Intel still owns the same 200,000 shares. Insiders own just under 20% of the shares One possible explanation is that this thread, lead by our own Sector, has so successfully spread the word among small retail investors, like us, that MRVC no longer needs institutional investors to go up. This explanation cuts against the old conventional wisdom that small investors can't materially affect stock prices. But recent evidence seems to suggest that bulletin boards like this do at times affect prices in a major way; most dramatically on the downside a la our own Mr Pink. Another explanation is that there has already occurred a drastic re-distribution of MRVC stock to small holders, hence there are now far fewer large owners who are able to put large "blocks" on the market. Under this scenario, large institutions are still accumulating but have to do so in small dribs and drabs. Comments?

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