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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Dan Proctor who wrote (11442)	2/3/2000 11:01:00 PM
From: BWAC	Read Replies (2) \| Respond to of 13953

<they bought some timely institutional support? > Not really in the sense that they did this now for support. These bonds had been in the planning for some time I think. A good deal of the weakness was possibly due to the underwriter shorting. In effect it got their clients in the bonds at a good convertible price $24. Underwriter unwinds its position and heads the stock back to a normal level. The underwriter won. The convert buyer is in a winning situation. EGRP got the cash. And the weak shareholders got the shaft for letting the market and Captain Metric panic them into selling low.