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Microcap & Penny Stocks : DCI Telecommunications - DCTC Today
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To: LT who wrote (14861)3/20/1999 10:06:00 AM
From: JOE MEDSKER  Read Replies (1) of 19331
 
LT,
Keep in mind that many of the large block transactions could be short covering as well as buying.

For the last two weeks we have had one and possibly two steady buyers pick up several hundred thousand shares. If you look at the trading log it is pretty obvious it is not normal retail buying. The big blocks that went off yesterday IMO were a pre arranged trade of 50,000 shares. It could very well be that someone or some institution either knows something or is convinced something is about to pop. There are negotiations on a number of items that could produce a press release at any time. You could very well be right about the short covering. I estimated that after we did our cert call program we cut the short position down from about three million shares to around 500,000. If the remainging shorts are convinced that the merger/name change/listing/cusip change/ is really coming then they just may be our buyer. Just as we know what the over hang coming down from Canada is so do they. If there truly is a short left then this will be their last chance to pick up a large number of shares without moving up the bid/ask. Regardless, we have a substantial buyer and seller. Lets hope the buyer is still interested when our seller is finished.

Best Regards
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