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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (65793)	8/4/1999 5:03:00 PM
From: PaperChase	Respond to of 132070

Ben, on those internut IPO's like drugstore.com there has been much press about how those fund managers who get in on the IPO shares give a "wink of the eye" indicating they'll support the stock in the secondary market. (This practice is illegal and it is done discreetly.) Then on the first trading days of the IPO, the fund dumbs are buying the shares in one account and trying to counter short in another. All this creating extreme price volatility. The internut stocks will track the way the biotech stocks did in the early '90's. At the birth of the industry it is nearly impossible to predict who the eventual survivors will be over a "longer" period of time.