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Technology Stocks : Veeco Instruments-Who? -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (1789)	2/6/1999 6:46:00 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 3069

Zeev: I am not sure the secondary shares are even trading yet. Just because they have been priced does not mean they are in the open market. The amended prospectus states delivery of shares on or about February 8th. MMer actions support the view that they are not trading. First, MMers who are also underwriters have reiterated "buys" in the past few days on the stock to support the price. In fact, they have been supporting the price for weeks in the open market. They need to support to price to have a good chance of getting the secondary off at $52. Secondly, they are currently at the bid to support it to $52 as best they can in the current market. Finally, the stock has not exceeded $52 since it was priced which leads me to the conclusion that they are not trading. If they are not trading and the underwriters don't have their ducks lined up as of now to eat this at $52, there is a good chance the secondary will go off at a lower price to please the big boys especially given the apparent difficulty in holding the price above $50 and given a declining market. My view could be incorrect, but I were in this stock, I would call Veeco to see if the secondary is in the market.