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Technology Stocks : p-com (pcms) -- Ignore unavailable to you. Want to Upgrade?

To: Rob L. who wrote (624)	5/31/1998 11:26:00 AM
From: Bottom_Dweller	Respond to of 1461

I know why PCMS is down. I've been watching for the last 2 weeks and there is a guy on INCA (Instinet) selling huge blocks of shares at the ask. He sells some and then backs off of the ask lets the stock go up a bit and then sells some more. The drop to 15 with huge volume was him selling huge into all the demand from people like us. I've hopped in PCMS and got out like 4 times thinking it was the bottom with some ugly losses. Needless to say, the guy on INCA is still there selling at the ask, he seems never to run out of shares to sell. I have been told that mutual funds use Instinet to liquidate their holdings, so this is what I believe is being done. Kyle..