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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Bagman who wrote (423)	4/3/1998 4:17:00 AM
From: Winston A. Chin	Read Replies (1) \| Respond to of 14638

The normal volume these days for NT is around 800,000 shares but the volume for April 1 was 2,800,000. There appears to be more than one mutual fund or institutional investor involved. The stock open under constant selling pressure with someone selling small blocks to cover his tracks. Then later on in the day some other big boy's finger was getting mighty itchy and wanted to bail out so he took the 'BIG BANG' route. Here is my BIG BANG THEORY. He sold whatever he had say 400,000 plus an additional 400,000 to short the stock knowing full well that his initial 400,000 shares would depress the price plus the additional 400,000 short shares caused even further price erosion. Knowing full well also that the stock price would not stay down for long he quickly stepped up to the plate and bought up 400,000 shares to cover his short position. Sorry that is my theory....excuse me James. WAC.