NEW YORK (CNN/Money) - Martha Stewart will not testify at her obstruction of justice trial and the case may go to the jury late this week or early next week, lawyers involved in the case said Tuesday.

Martha Stewart's former broker, Peter Bacanovic, will not testify in his defense. CNNfn's Mary Snow reports. Play video (Real or Windows Media)

Stewart's defense lawyers said late Tuesday afternoon that they were going to call just one more witness, but that it wouldn't be Stewart. They said they could rest their case as early as Wednesday.

Lawyers also said Stewart's former stockbroker and co-defendant, Peter Bacanovic, would not testify in the obstruction of justice trial -- the most closely watched case so far involving corporate executives accused of wrongdoing.

Also, the judge indicated late Tuesday that she won't rule on a defense motion to dismiss some of the charges against Stewart until later in the week.

Most of Tuesday's testimony revolved around Stewart's business manager, Heidi DeLuca, who said she'd reminded her boss -- just days before Stewart was going to be interviewed by investigators -- that Bacanovic had long wanted to sell Stewart's ImClone Systems stock if the share price fell below a certain threshold.

DeLuca said Stewart asked her, "What do you remember about ImClone?" and she replied, "I remember Peter wanting to set some kind of bottom price around $60 or $61."

Stewart's lawyers say her conversation with DeLuca was fresh in Stewart's mind a few days later when she was questioned by investigators about her sale of nearly 4,000 shares of ImClone in late December 2001.

Stewart told the investigators during the interview that she sold the stock because of an existing arrangement with Bacanovic to unload the shares if the price fell to $60.

Prosecutors say no such arrangement existed, and that Stewart sold after she was tipped by her broker's assistant that her friend Sam Waksal was trying to sell shares of ImClone -- the biotechnology company that he founded.

The government says Stewart and Bacanovic worried the trade was illegal and lied to cover it up. They are charged with criminal conspiracy and Stewart also is facing securities fraud charges.

Stewart attorney Robert Morvillo has indicated that DeLuca's testimony will be one of the key elements of his defense.

Federal prosecutors tried to punch holes in DeLuca's story.

During cross examination, Assistant U.S. Attorney Michael Schachter tried to show her memory as faulty and that the conversation DeLuca had with Bacanovic dealt with a previous transaction and not the sale at the heart of the case.

Schachter also pointed to phone logs and notes showing ImClone hit the proposed sale price several times after DeLuca and Bacanovic spoke in October 2001 -- without Stewart acting.

DeLuca also admitted that she had no written records of her conversations with Bacanovic.

Related Links • Stewart's Employment Agreement at Martha Stewart Living Omnimedia Inc. • Court Ruling Dismissing 'Selective Prosecution' Defense • Superseding Indictment (U.S. v. Stewart and Bacanovic)

In her testimony Monday, DeLuca said that in early November 2001, Bacanovic told her he "felt he would set a floor price of $60 or $61 just in case the stock continued to fall, as a safeguard," and that he planned to talk to Stewart about it.

That was the first testimony backing the explanation Stewart and Bacanovic gave for her sale of ImClone shares a day before negative news about the company sent the stock tumbling.

Stewart, the founder and former CEO of Martha Stewart Living Omnimedia (MSO: Research, Estimates), and Bacanovic are charged with lying to cover up the real reasons for the sale.

Waksal, also a friend of Stewart, is serving a seven-year prison term after pleading guilty to securities fraud.

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Douglas Faneuil -- Bacanovic's former assistant -- has testified that Stewart told him to sell her ImClone stake after he revealed, at Bacanovic's behest, that Waksal was selling.

Stewart could face up to 30 years in prison while Bacanovic could be sentenced to 25 years if convicted on all counts, according to the U.S. Attorney's office.

The prosecution rested its case Friday after a close friend cast doubt on testimony damaging to Stewart and the judge heard dismissal arguments.  

-- from CNNfn's Allan Chernoff and staff and wire reports