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Technology Stocks : Westell WSTL
WSTL 5.450-2.5%12:20 PM EST
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To: P1edPiper who wrote (9985)4/2/1998 10:33:00 AM
From: Zephod  Read Replies (2) of 21342
 
>>>I am curious regarding the trading in Orckit over the last week and would like to understand anyone's take on that.

That was so weird, not so much the volume as the volume with relationship to the almost 3 point swing. I guess most people think its related to DT. They only thing I could add that you might not have noticed is that the volume increase actually started just a couple of days after Westell's big volume day. Orkit's volume had dried up to 50k or so a day then 3 days after Westell's 1.6 million share day Orkit did 360K. A week later the million share day. At the time I thought some fund had taken stakes in both Westell and Orkit, but after CeBit and the DT announcement, who knows. It almost looked like the MM's purposely drove the price down to allow someone to take a stake. If I didn't think that was illegal I'd guess that's what happened. I remember a trader telling me some years ago that can happen, I don't see how though.

>>>It would seem the ever impressive insiders of the street have voted the big negatory on that company today.

I was a pretty low volume sell off though, I still think the story's intact. Orkit's similar to Westell in the respect that there's a pretty small float. Out of 14 or so million shares outstanding I think insiders own around 65%. Could be a big pop on any positive announcement.

>>>Not bad trading in WSTL today n'est-ce pas?More to come ?

I'd appreciate you're insights into the Westell chart. Looks good to me, off the top of my head I remember seeing a double bottom in the 10's followed by a period of higher lows and I think the 20mva is getting ready (or has) crossed the 50mva. Dave
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