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Technology Stocks : Vari-L (VARL)
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To: Bosco who wrote (1451)11/25/1999 2:46:00 PM
From: JBruin  Read Replies (1) of 2702
 
BOSCO,

You hit it right on the nail. The market maker NTBC was on the offer for two hours+ "selling" at 17 11/16 on behalf of his client. The client sold the 95,000 shares at 17 9/16. The fact that the offer was 17 9/16 when the trade was actually printed is completely irrelevant. There probably was multiple institutions building positions but there was ABSOLUTELY one that was lightening up on their position.

FYI, NTBC was handling more shares on the offer yesterday. If there were not multiple buyers left VARL would have closed much lower. But obviously given the huge volume & the price action there are still more buyers than sellers.

I'll continue to update everyone on NTBC's behavior.
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