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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: micny who wrote (6613)6/22/1999 12:15:00 PM
From: David H. Zimmer  Read Replies (1) | Respond to of 20297
 
In my estimation it was Merrill that was covering. During the last two weeks I seldom, if ever saw Merrill on the bid, unless it was very well disguised within the Instinet market.

As such, they had plenty of ammunition, both from the offering price differential to their, more than likely short position, to allow the stock to drift and make a few more bucks, the whores.

It's a wonderful life, not equitable but wonderful.



To: micny who wrote (6613)6/22/1999 12:46:00 PM
From: David H. Zimmer  Respond to of 20297
 
Another scenario involved with offerings of this nature is the secondary buy back-ups that would have been negotiated with those that purchased on offering.

Quite often the institutional buyer will agree to purchase in the aftermarket a percentage of shares that it received on the offering. If such is the case, CKFR will close above yesterday's close.


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