VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Larry Brubaker who wrote (2983)	5/22/1998 11:54:00 AM
From: The Vet	Read Replies (2) of 27311

Larry, of course you are correct, and in practice that often happens, but it should not. If you take that logic to the obvious conclusion then MMs could trade completely outside the real price range (that is the price that the public are willing to buy and sell a stock for) with impunity. That is what is happening with VLNC right now. (If a had a million or two to spare I could show you that on VLNC right now by starting serious buying - but alas the piggy bank is too bare). Fortunately, I also have a Datek account where NASDAQ trades are presented to the market via Island and when I place a BID or ASK then if it is the best, it is always displayed on the quotes. That does not always mean that the MMs don't trade around my Datek orders; they do; but it does mean that they could be subject to more awkward questions from their customers if they buy or sell outside the best price quoted. Unfortunately the particular order in question was not placed through Datek and as a result the MMs had their way with me on this occasion....

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