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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Ken Muller who wrote (12072)	9/8/2000 6:31:51 AM
From: gruetz	Read Replies (1) \| Respond to of 12468

Reasons for decline: All reasons mentioned are possibilities. A couple others would be 1) an analysts's reduction of price targets for CLECs (I read on the Yahoo board for ALGX that Lehman lowered its target for ALGX from 80's to 60's) and 2) a major institutional investor like a fund mgr deciding to exit. There was heavy institutional selling in both ALGX and WCII all day yesterday. MCLD and NXLK were holding up pretty well all day with normal volume but fell late in the day. I'd be less concerned if people were selling because of panic or concern about temporary funding difficulties than if we have lossed a large institutional investor for the forseeable future.