VLSI Technology - Waiting for good news from NASDAQ !!! Message Board

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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!

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To: BWAC who wrote (4382)	9/17/1998 9:37:00 PM
From: DanZ	Read Replies (1) of 6565

BWAC, Unfortunately people don't look at the balance sheet when they are in a panic. That's what makes me nervous about VLSI hanging around the bottom of the base at 7. It would be a big relief if the stock would move up to at least 7 1/2. With option expiration tomorrow, I think that's a good possibility. I immediately placed a sell stop at 6 13/16 after my buy at 7 1/16 filled just in case the stock collapsed. Luckily it held at 7. The bid size got up to 27,000 shares at one point and stayed there for about an hour. I've never seen a bid size that large before on VLSI and I have been watching this stock daily since February. Every now and then a big bid size will flash for a second and then go away. Today was the first time that it stayed at that level for any length of time. A 100,000 share trade crossed at 7 and the bid size didn't even change. My guess is that there are some very big limit orders sitting at 7 and I doubt if the stock will get through there. With that much size on the bid, it's well worth the risk to buy it at 7 1/16 with a close stop. The upside potential is enormous compared to the 1/4 that one is risking.

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