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To: steve olivier who wrote (2262)	7/7/1999 11:26:00 AM
From: jeffbas	Read Replies (1) \| Respond to of 2920

To my surprise, Steve, I think that it is simply the fact that the upside potential still exceeds the downside risk by 5 to 1 or so. The market is responding intelligently. A better question is why now and not until now. For that I point to the combo of the long term wedge formation coming to a point at the time of the SIA report. The explosive move out of the long term base drew attention to the company, the actions they have taken and the opportunity described in the prior paragraph. My current view is that long term support is now $3 and that the stock may continue to go up until the risk to $3 and the reward to whatever the buyer thinks might be possible are more normally balanced. There is supply between $8-9. Note that the first major move in 1995 above $3 had no material setback until $8. The short term risk/reward at that level would certainly be unexceptional, in my opinion.