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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI) -- Ignore unavailable to you. Want to Upgrade?

To: Charly who wrote (2782)	7/13/1999 8:13:00 AM
From: david james	Read Replies (1) \| Respond to of 3541

The stock started moving up from the low 7s the day IFCI presented at the Oppenheimer conference. I suspect that Oppenheimer (and maybe the rest at the telecommunications conference) have been well aware that this quarter is going to be weaker than originally forcasted. Nonetheless, they have been buying up to 9 in anticipation of where this stock will be heading, then letting the shorts, traders, and weak hands push it back as they sit on the bid absorbing more of the shares - but allowing it to fall back. I suspect we may continue to oscillate like this until the volume drops or the lows in this oscillation start rising towards 9. The market maker activity for June is out (it can take a couple minutes to load) nasdaqtrader.com One can see Oppenheimer (CIBC) and Merrill Lynch as new MMs, and since they probably didn't have shares to sell, most of this activity probably represents buying. However, if either of these groups are coming out with 'buys', I suspect that they will want to accumulate a lot more shares than shown here. CIBC became an active MM in the last 10 days or so of June and it shows they 'traded' 269k shares and Merrill Lynch 'traded' around 100k shares. They may have bought shares through other MMs before that (and since then). JW Genesis has also become active again as one can see. The registered ownership of these groups for the quarter should show up in about 3 weeks. The Russell 2000 should bring in a few more institutions, but it is curious that IFCI hasn't announced this. It seems every new company on the list is making a big deal of it in their press releases. David