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To: GVTucker who wrote (161442)	10/3/2000 6:08:47 PM
From: D.J.Smyth	Read Replies (1) \| Respond to of 176387

Tucker, one last question: actually wasn't meaning to refer to the comments of the analyst as the main point. we all know that from the heart the mouth speaks. thus, to get to the "heart" of the matter is to get to the shares in inventory. you don't believe that through proper collective inventory management blocks of shares per specific index are moved in order to 'remove the excess', as it were? now that the wireless sector has given back much of its gains we see several fund companies (VanKampen, etc.) coming out with 'wireless block offerings' and tooting such as the 'new era'! (received another fax yet today) you don't consider index arbitrage to be but a legal form of market movement? shares are basically 'created' where none exist (other than as 'borrowed'). during the 'oil glut' of 1998 the CBOE counted that actual oil purchased exceeded inventory by over 20%; yet all the while the price of oil was declining! once the US Govt. corrected their 'inventory management' through improved reporting, the price of oil moved from $12 to $14 in a short time. you can call this a 'mistake' of the U.S. Govt., or a designed event (look into it). fact remains, such 'inventory' control for both stock shares and commodities remain a woeful inexact science for those supposedly in charge of counting such.