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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: Dan3 who wrote (71478)	5/1/2001 7:44:28 PM
From: KM	Read Replies (1) \| Respond to of 93625

Morgan makes a highly active market in Rambus and always has. Sometimes a party will park on the ask when in truth, they're trying to buy. I'm not saying that's the case today. But I'm looking at level 2 on it right now and I see it going up AH a little.

To: Dan3 who wrote (71478)	5/2/2001 7:56:45 AM
From: GVTucker	Respond to of 93625

Dan, RE: This Yahoo poster claims MSDW (of Mark Edelstone fame) is dumping RMBS stock: If an institution has a large block of RMBS to sell, MSCO would be one of the most likely places that they would cross the stock. Morgan Stanley is, of course, the most public proponent of RMBS on Wall St. Thus, they're most likely in touch with most all large holders of RMBS and many people who are looking to buy large blocks of RMBS. So what might appear as MSCO dumping stock is probably MSCO crossing stock instead. (Of course, one of those institutions that owns a large block of RMBS is none other than Morgan Stanley, with 1,441,000 shares, at least as of the end of the year last year. New data on their holdings as of the end of March will be out in a few days.) You got me to thinking about block trades in RMBS. What is interesting is that MSCO is not the largest institutional trader of RMBS lately. They're second on the block list to Bear, Stearns (MSCO had 17% of the block trades, BEST was at 35%). Note that this data is only complete through the end of March. This tells me that the primary volume in RMBS had been hedge fund driven--many hedge funds clear through Bear Stearns. MSCO's activity yesterday might indicate that old fashioned long-only managers were running the show.