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Technology Stocks : 3DFX
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To: jgideon who wrote (2642)4/28/1998 5:00:00 PM
From: Chip Anderson  Read Replies (2) of 16960
 
The following was just posted (by someone much more knowledgable than me ;-) on the Motley Fool board:

"A friend of mine who is an intraday market maker told me this: TDFX has no analyst currently backing it since Rob. Stephens was put on the block (effectively taking Moosa's reason to back this aggressively). As a result, the Opco nonsense can be used to point out how dicey this stock can be if someone wanted to short this. One or more intra day guys were recently used to sell a block of stock from someone (venture capital ?) and noticed that there was little institutional support when they sold the stock down. In fact they were surprised to be given the stock in the first place since it isn't their practice to sell out positions of that size (would not say how much he had). His take was
that there were no brokers fighting for the business.

His group did a little research and came to the conclusion that they could sell this thing down and there would not be much resistance. He would not say if they were short now. Anyway, he believed that some smallish intra days had made some good money selling this thing down and short. He knew about the positive earnings but they were confident that there would not be an effective sales force selling the stock . "

Explains alot.
Chip
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