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Technology Stocks : Sterling Commerce (SE)
SE 142.31-8.3%Nov 11 3:59 PM EST
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To: G3 who wrote (115)2/5/1999 11:11:00 AM
From: Ramsey Su   of 341
 
G3,

I suspect a large holder decided to dump. Very large blocks in early trading after opening belayed by over an hour drove it straight dn.

With ~90 million shares out, SE is 81% institution owned and 9% insider owned. Needless to say, the float is very thin, resulting in extreme imbalance. We have already traded 5 times the normal volume in just half an hour of trading. I think the real price will surface once the big boys are done juggling their positions.

Ramsey
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