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To: Sir Francis Drake who wrote (2629)	7/21/1999 10:53:00 AM
From: Sir Francis Drake	Respond to of 10027

AMTD, EGRP, SCH, JBOH, all positive, NITE negative. So, if the sector is positive, the market is positive, good NITE earnings are out... LOL! Morgan

To: Sir Francis Drake who wrote (2629)	7/21/1999 11:05:00 AM
From: Joseph Silent	Read Replies (2) \| Respond to of 10027

Morgan....... I'm reading all this action differently. Your take is pessimistic -- understandably so, given the behavior of the stock. While I have no way of knowing for sure, just watching the action over the past month or so suggests that a large part of the decline is due to uncertainty about the decline itself, coupled with the lockup expiry. People sell when they see other people sell, or when they see other people negative. People buy when they see other people buy (also daytraders), or see other people positive. What feeds the uncertainty is the negative press on OLBs, Barron's article, ECN uncertainty, spreads etc etc. I don't know about a move to 48 helping (its not clear to me why its necessary to see 48). But what will help is a start of buying activity -- even a small start (like today), and some information that helps to clear up the issue of the decline. I am almost certain now that we have been witnessing selling of shares from lockup expiry (especially given the volume of retail sells). With institutions accumulating, the decline will stop at some point (today, perhaps). Then we'll see positive press from brokerage houses, and an uptrend will start. Hopefully, it will be today, or soon. But we need retail selling and the accumulation at these levels to either stop or gradually move to higher levels. Joseph