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Non-Tech : Barnes & Noble (BKS) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (1058)	5/10/1999 3:20:00 PM
From: space cadet	Read Replies (1) \| Respond to of 1691

"This has not been your normal back door play. There has not been a lot of volatility on the upside in this issue yet and conversely it will probably not sell off as much as the other back door plays." I agree. Good points. However, now that the road show has definitely started, I am shocked that bks hasn't moved and the volume is pitifully low. One thing I'm sure of, the price will not move if the volume doesn't shoot up. GS was also in charge of ZD which spiked up and now look at it. I think that because of that experience GS may be intentionally trying to keep BKS from moving higher. Also, it would appear that someone is trying to prevent bks from going above 36, thus keeping the may 35 options virtually worthless. This looks like it's turning into a game of chicken, who will blink first, the option holders or the option sellers. If I didn't know better I would say that the IPO date has been pushed back, but I haven't heard that. The one thing that could definitely spike the volume on this is a firm announcement of a definite IPO date. The closer we get to May 24 with no announcement the more worried I get that the date may be delayed to allow the may options to expire worthless. I've never seen one of these backdoor ipo's so close to the ipo date with such feeble volume. As long as the volume is this anemic, it's easy for GS and whoever to control the price. Since they know this, is it possible that they won't ever announce officially the may 24 pricing date until may 24? Just some food for thought...