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To: E. Davies who wrote (11939)	6/30/1999 6:51:00 PM
From: FR1	Respond to of 29970

It looked to me as if traders were abandoning ATHM for the first tier "Old net" stocks like YHOO and EBAY. I felt the same way. I think everyone agrees that the rally is underway. First to get the money are the old faithful stocks. Now that CMGI, EBAY, YHOO, etc have all had a good boost, I hope we are next in rotation.

To: E. Davies who wrote (11939)	6/30/1999 7:06:00 PM
From: Lane Hall-Witt	Respond to of 29970

It looked to me as if traders were abandoning ATHM for the first tier "Old net" stocks like YHOO and EBAY. This may have been happening. I read on the Yahoo! thread that ATHM was being dropped from the Russell 2000 and so would have had some end-of-day selling due to index-fund rotation. The writer said ATHM had exposure to the Russell 2000 due to the merger with XCIT, since XCIT had been a member of the Russell. I don't have time right now to verify whether this is true -- or if XCIT was dropped from the Russell earlier, when the merger with ATHM was completed -- but it sounds plausible and certainly would help explain the volume late day and after hours. I'm pleased with the very heavy volume on an up day -- basing up for a more significant move leading into earnings this month.