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To: anthony karpati who wrote (1440)	1/13/1998 4:53:00 PM
From: SCOTT HEIMAN	Read Replies (1) \| Respond to of 4748

I think the buyer list is as short as the seller list (R. Cohen on the buy side, Pfd.'s on the sell side.) Days like today occur when RC had no buy tickets and the sellers want to wait for higher prices. This stock has shown a bias for drifting lower rather than sideways or higher on low volume I think in part because the MM's like to keep the inventory low on stocks such as this. If they have no order flow from their retail brokers they simply ease back the bids. This is not manipulative, it is just smart. Broker-dealers make money TRADING stocks, not being long or short for price swings. Profits come from the spread and that is all.