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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Sig who wrote (4590)	10/28/1998 1:20:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Sig, there really wasn't that much selling. The stock made a big runup on strong volume and when that volume dried up, the MM's moved it back down. It is likely the MM's did not have sufficient inventory to fill all the buy orders on the way up and had to short the stock (sell borrowed shares) to fill buy orders. Once the buying subsided, the MM's pulled it back down to a level at which they could profitably cover their short positions. My question is not who is doing the selling, but who is doing all the buying? And why?