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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: Harold S. who wrote (3165)3/16/1998 1:20:00 PM
From: DanZ  Read Replies (2) of 6565
 
Here's what I saw for what it's worth.

Once the stock got to 17 3/4, a lot of small sellers (1k - 2k trades for the most part) pushed the price down to 17 1/4. Then the stock rallied on decent buy orders. Once it got back to 17 1/2 bid, somebody bought 50,000 shares at 17 9/16. Then a seller of about 35,000 shares showed up, trying to sell his stock in 10,000 share blocks at 17 9/16. He finally dumped his stock at 17 1/2 in two 10K blocks and then I saw a 15K block at 17 17/32. I'm assuming that it was the same seller simply because of the timing of the trades, but it may have been multiple sellers. As soon as he (or they) were done selling, the pressure was off of the stock and it snapped back.

There has been some technical damage done to the stock today but I'm still holding. Maybe I'm just stubborn, but I think the stock still looks ok. It would be particularly bullish if it finishes back over 18.

Dan
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