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To: Lizzie Tudor who wrote (83069)	11/3/1999 10:34:00 PM
From: Robert Rose	Read Replies (1) \| Respond to of 164684

<But this run was sure specific to only a few stocks, its not even the entire b2b sector (which is tiny compared to the nets), since ariba was left off. Actually, the run looks pretty broadbased to me, what with the the dot and iix up over 2% each today. Even arba was up over 2%, although I agree that it has been in the process of basing for the past month. This suggests that the market has found a comfortable valuation for arba at current levels, despite the current mania. While a month ago cmrc was trading at 35% of arba's market cap, it is now trading at 75% of that (!). I would think, however, that arba's valuation should provide some kind of ceiling for cmrc's. We shall see. cmrc's last earnings report was simply blistering. And for that reason alone it is tempting to hold the stock come hell or highwater.