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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Tickertype who wrote (16467)11/29/1999 10:24:00 PM
From: Gordon Quickstad  Read Replies (1) of 27311
 
I really believe the MM's have no qualms about taking the price down fast and furious to take out the stop loss orders when they can... basically when volume is slow and the orders are just sitting there and they see some buy orders coming in. The churning commissions don't hurt either.

I think you get a lot of cowboys in the small stocks because it's so easy to manipulate the price when you see all the orders on the screen. One of the benny's of the trade and it helps pay for a better than average bottle of wine and vacation.

I'm afraid I caused the big dip on the 23rd with a stop loss of 21000 shares put in the night before at 7 1/2 and they all sold for an average of about 7 1/16. They took it down for several minutes to pick 'em off and then resold them for a buck higher minutes later. Of course they saw the buys come in before they swooped down on mine. Somebody probably ordered the filet mignon with lobster instead of the rib eye that night.

Oh well, at least I eat much more healthy than that.
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