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To: Charlie B. who wrote (5336)	6/30/1999 4:57:00 PM
From: Larry Kagan	Respond to of 13157

I think its when fund mgrs need to disclose their holdings and want to say they are in a particularly exciting stock. -Lk

To: Charlie B. who wrote (5336)	6/30/1999 5:39:00 PM
From: SCOTT HEIMAN	Read Replies (1) \| Respond to of 13157

Charlie: It's term used to describe a money manager's efforts to make his portfolio look better positioned before the end of the quarter when they have to reveal their positions to clients. Often times it is done to make a portfolio appear more conservative. For example, a money manger's performance was poor because he got to aggressive on some unknown stocks so he dumps these and loads up on those names that give clients the "warm fuzzies". The logic being "Who gets fired for being down with names Coke, IBM, etc.?" Yes, it's a stupid practice that probably only fools the most uninformed client, but that's Wall Street. As for it's being a factor behind today, I'm skeptical. I feel that there is much more happening here than we are aware of. We had over 1 million shares trade with a 2 point uptick in a 2 1/2 hour time span. I don't think that's a fluke. I don't have any idea what is happening, but I do think today's action indicates something meaningful. Good Luck, Scott