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Technology Stocks : Orbital science (ORB)

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To: contax who wrote (1366)	3/29/1998 6:11:00 PM
From: Gerald Walls	Read Replies (2) of 2394

I guess when the volume goes above 2+ million and the price stays in a very narrow band, that is when we will have confirmation that the Secondary went through! Usually a very good time to buy. The shares will be sold directly by the company to the Secondary Public Offering subscribers and will not show up in market volume. We'll have to see the size of the discount to market that the subscribers get. If it's very big then there's the urge to flip the shares for a quick profit. If, OTOH, the shares are going to institutions very near market (allows them to buy without driving up the price) then there won't be much impact.

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