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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: John Curtis who wrote (4643)11/2/1998 10:47:00 PM
From: Robert Cohen  Read Replies (1) of 27311
 
If I remember correctly, the 2 top volume market makers in VLNC are MASH and NITE. They both pay for order flow and are not usually involved in maintaining a proprietary end of day position either long or short. Rather they just provide order flow and are happy to make the spread. In addition the volume for NOV calls is nil.

I am a little concerned that the recent price decline is not due to MM "games". If news were eminent I would also expect significant NOV and DEC call option volume.

Still very long but more than a little anxious.

Robert
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