VALENCE TECHNOLOGY (VLNC) Message Board

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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Sig who wrote (4418)	10/16/1998 3:35:00 PM
From: Pallisard	Read Replies (2) of 27311

Sig - I think its definitely the MM's. They play the stock like a piano. Take it up on tight spreads, short it, drop the bid as far as possible and then cover. They can clip off a quarter point a day in this period and still have enough in reserve to meet a sudden big demand. That way their short position is never too big to get them in trouble. If there are say 3 MM's co-ordinating this action, they probably scam the issue almost every trading day for about $5000 each. It pays for lunch! The people paying for it are a few individual holders who have decided to rotate or change issues and probably doesn't amount to more than 4 or 5 thousand shares. The rest is MM's passing it to one another. I've always felt that computers now, could handle the making of an orderly market for the last several years on all the exchanges, and these guys are merely parasites making obscene profits on the backs of the small investors. IMO Anyone have any thoughts about it? Pallisard

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