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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Don S.Boller who wrote (2092)	6/30/1999 9:46:00 PM
From: JRobinson	Read Replies (1) \| Respond to of 3873

Dodged a big bullet today, put an order in to sell the July 65's at 6 1/2 before lunch. Got filled as I slept (working nights) and about had a coronary when I saw the close. Those calls were worth 1 /78! Anyway, while I agree this looks like a great opportunity to add to my long position ( and I may very soon), historically when this kind of action has occurred in a stock I own, it normally ends up lower. The volume was way above normal, the percentage drop far greater than it's peers mentioned in the Justice Department news release and the drop occurred hours after the release after rallying. Combined with bullish general market news this was a technical disaster. It makes me think, with that institutional type volume, that maybe there is more to this than we realize or are privy to. I wonder if it is also tied to WCOM's announcement of lower anticipated revenues from voice calls, although the irony is that LVLT is a contributor to those worries. Will be watching closely for an entry starting tomorrow, as I suspect others will also. But I also want to avoid falling knives.