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To: southbound who wrote (23792)	10/8/1999 9:22:00 PM
From: Patherzen	Read Replies (1) \| Respond to of 27722

With NAVR ticker floating across CNBC today remember there are folks who have never heard of this company and will have the weekend to check it out. The road show has begun - there will be a swift momentum run-up in price as we move toward actual IPO pricing and trading dates. I say we retest the former 27 high and move beyond to maybe low thirties. When NETR IPO's and gets press ... those who have been on "the bench" of NAVR are only a tiny handful of folks that will have had memories of pain with NAVR. Keep your fingers on the trigger folks. Let's hope market conditions remain "ripe" for our NAVR and NETR to rumble!!! Regards...Patherzen

To: southbound who wrote (23792)	10/8/1999 10:10:00 PM
From: SLSUSMA	Respond to of 27722

Southbound, congrats on your 20% gain today. As I skim through some of the wacko boards like RB and Yahoo!, one thing glaring out is that there are a bunch of "longs" spamming theories about holding NAVR through the IPO and that NAVR is bound for a DBCC run---either case is pretty unwise IMO. Can NAVR still go up in price? Probably. One sign is that the volume today at the last hours (1 or 2) was about 1.3 million shares, give or take a few. I wasn't around a computer then, so I didn't get to see the sizes of the trades to tell me if they are small fries trying to catch the IPO euphoria or people with serious money. For now, I suspect the latter because 1.3 million shares x $13 is over $17 million. Small fry, even a legion of day traders, can't muscle that much cash in an hour, I don't think. However, the likelihood of a DBCC type run to $40-$50 is slim to say the least. This backdoor IPO play is old news now, and I think most MMs, brokers, and traders realize that you gotta bail out the day before the IPO, or at the latest, the day of. Throw in human fears for good change and you notice that the backdoor plays have been peaking out 1-2 days before the IPO these days. The most popular theory to hold through the IPO is the rumor about NAVR releasing great earnings on the 19th of October. This theory doesn't make much sense for 2 main reasons: 1) NAVR has historically taken the max amount of time to release earnings. Most small operations like NAVR rely on outside CPA help to completely sort through the books. I don't think NAVR has an extensive inhouse accounting department that can turn around the books that quickly. Keep in mind that there are more to earnings than just the numbers. You gotta have the PR spin, the CC, and, as I am finding out now, pages and pages of legal/regulatory stuff. With the company focused on the NETR IPO right now, I can't see NAVR releasing earnings, good or bad, 2-3 working days after the IPO. Reason #2---the same wacko longs have said that the IPO is before the 15th because during a supposed phone call to EP's secretary, she said EP was gonna take a vacation starting the 15th. Makes sense to get away after making some dough, whether he deserved it or not. If NAVR releases numbers without the CEO, then this company is as amateur as some are claiming. Therefore, I think the earnings theory to support/prevent a NAVR post-IPO collapse is far fetched and a plot by the hypsters to trick the newbies into hold. As ineffective as it may be, most likely, the day NAVR opens down is the day to cash out, because it will be a cascade effect as we have seen with out backdoor plays. Once again, stop limits are your friends in dealing with gains provided by this company. Monday will be interesting at the open, since NAVR closed after hours near $14 and was fairly active for this stock. However, I still don't see enough volume these past 2 days to propel this into a $20 stock. USMA95