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Technology Stocks : ITXC -- Ignore unavailable to you. Want to Upgrade?

To: Mary Baker who wrote (500)	1/21/2000 12:05:00 PM
From: David Wiggins	Respond to of 987

Mary, To say I'm enjoying this is CERTAINLY an understatement! Regards, Dave

To: Mary Baker who wrote (500)	1/21/2000 1:26:00 PM
From: Bill Lotozo	Read Replies (1) \| Respond to of 987

Mary, I wonder what Monday's target will be! hehehe

To: Mary Baker who wrote (500)	1/22/2000 11:37:00 AM
From: David Wiggins	Read Replies (1) \| Respond to of 987

Mary, To answer your question, When a stock goes up on low volume such as ITXC has just done, it simply means, as always, there are more buyers than sellers. With a stock like ITXC where the float is small and the rise steep - it essentially means NO sellers. This is confirmed by the large 'spread' (the difference between the bid and ask) MM's must, by the rules publish a bid and ask price. If there is no liquidity in the stock due to no sellers/or buyers the spread will be large because MM's don't want to get caught selling (or buying) into a large move in the opposite direction. That is why we were up 15 points on only 50,000 shares volume yesterday AM. The problem with such a large move on low volume is that it can be reversed just as easily with an equal volume of downward pressure (more or less) so if a big seller steps in, we could be headed back down. If you got in early like us <smile> you don't worry too much about that. I feel we are safe though, and will probably be even higher around earnings time. Judging by institutional interest a big buyer - probably a fund of some sort is scooping up as many shares as they can. Before yesterday it seemed to be at $72/share or so. Big funds want a profit and are not day traders, so they probably will not sell quickly themselves. There are some indications that there is still MORE institutional interest right now which might lead to even higher short term prices. If we can hold here till earnings, we should see some big volume days (1 million+ ) when visibility goes up due to the fact that we will blow away estimates and show fantastic revenue growth. That should at worst stabilize share price at the pre-earnings levels if not drive it up further. There may be some sell-on-the news activity after earnings when some holders who anticipated this will unload for a quick profit. I, for one, won't do this because this is a company that will grow for the next few years if they are not bought out. I truly believe that if not bought out, this is a company where people will say like MSFT or INTC, "If I had only invested x dollars in that when it first came out, I'd be rich now" Well congratulations, WE DID! Regards, Dave