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To: zello who wrote (26612)	7/25/2000 10:20:48 PM
From: Clappy	Respond to of 35685

Z, you may be right about the split. JDSU may want to increase the size of their float now that alot of it will be used up by the funds. Here' a link that explains how a company gets added to the S&P 500. Message 14028993 Index Committee looks at trading liquidity to assure that investors can buy the stocks selected for the index. Closely-held stocks where a small group has control of a company will often be EXCLUDED from consideration for the index.

To: zello who wrote (26612)	7/25/2000 10:21:20 PM
From: Voltaire	Read Replies (1) \| Respond to of 35685

Hi Zello, good to hear from you. this is my take simply put. The Houses for the sake of their funds will manage to get this stock down during the day tomorrow from 10 to 12 points from where it closed today ( they started it in after hours) and when all is said and done it will go up to about where it closed today. I think people are going to be stunned by the intra day low. CAVEAT - if the earnings are outstanding, the upward pressure will be too great for the Houses to stand in the way and the next day we could zoom based ONLY on that and nothing more. So - we are simply back to a earnings watch. I am sure this is not what you wanted to hear but that's it from me. I hope your wife and you are well. Are you still in Russia? V

To: zello who wrote (26612)	7/25/2000 10:32:01 PM
From: Voltaire	Read Replies (2) \| Respond to of 35685

If 130 million shares were bought over the last 4 days weren't 130 million shares already also sold? YES - but you must understand if the major Houses are working in concert with each other for the sake of their funds and with no upward pressure from the retail investor which can come only with a fantastic earnings report because most of the retail investors have probably already bought in anticipation of a run up, where does that leave the Houses?. NOW - that leaves the Houses in a position to just saddle the stock between each other and have their stock of in house inventory be the buffer and then there is nothing more than a technical sale for the sake of the SEC. Everything being equal the Houses only need from a half to a point to saddle with no upward pressure but with the obvious number of shares to exchange they will need more than that and that is why I feel they will build themselves a buffer tomorrow of about ten points down from todays's close. In other words if you have in house inventory and one of your funds has to purchase, simply sell that fund your in house inventory and then adjust later. Beats paying out the ass for the stock and I THINK THIS IS WHAT WILL TRANSPIRE. KEY - it must be a stock entering the S&P that are largely held by the Major Houses, thus in stock inventory. V v