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To: re3 who wrote (74630)	8/19/1999 10:44:00 AM
From: Eric Wells	Read Replies (4) \| Respond to of 164684

I see three possible scenarios that might help to explain Mr. Blodget's recent pronouncements: Scenario 1. Blodget honestly believes in his internet Xmas basket, he believes his price targets for the stocks are justified through some financial analysis, and he believes that the companies will one day reach a level of profitability to justify their high stock prices. In short Blodget is honest. And Merrill is backing Blodget 100% in supporting his beliefs. <<or>> Scenario 2. Blodget is honest and believes in his projections (as described in scenario 1 above), and Merrill is using him as a puppet, bringing him out when the time is right, keeping him quiet when the internet stocks are in decline. <<or>> Scenario 3. Blodget does not believe in his Xmas basket stocks and does not really believe in his price targets (although he realizes mania may drive prices up to his targets). And Blodget is in cahoots with Merrill management in pursuing a strategy of taking advantage of investor sentiment to try to manipulate stock prices (in a legal fashion) to the tremendous financial advantage of Merrill (and presumably Blodget). I think scenario 2 could be the most accurate, however, I fear that scenario 3 may be reality. -Eric