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

To: Robert Cohen who wrote (5752)	12/3/1998 10:31:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Robert: My guess is the other MM's had some sell orders and were trying to drive the price down, while PERT had a buy order and was sitting on the bid. Result was a locked market. Once PERT accumulated enough shares they moved off the bid and the other MM's were free to drive the price down. Do you know what kind of clients usually do business with PERT (e.g. institutional investors?)

To: Robert Cohen who wrote (5752)	12/10/1998 10:32:00 AM
From: HQ	Read Replies (1) \| Respond to of 27311

A question about institutions, Robert (or anyone else?): Can institutions acquire shares without them being publicly crossed over as a trade? I read something in Cramer's column (TheStreet.com) that intimated that a large institution would go to a Market Maker to get the shares needed, if they wanted to establish a large position. (Similarly, if they needed to unload a chunk.) If this is the case, could the MMs then 'shake the tree' to acquire shares and then just transfer title over, with it only showing up later when we see the institution as holding the shares? The answer to this seems important at this juncture, if we are to avoid misreading the tea leaves.... Thanks in advance. PS Does anyone know of a 'tell-all' book written about trading?