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To: Binx Bolling who wrote (3096)	5/22/1998 4:16:00 PM
From: limtex	Read Replies (1) \| Respond to of 60323

Jim - would you mind spelling this out. If tyou mean what I think you mean then it isn't the best news for the weekend? L

To: Binx Bolling who wrote (3096)	5/23/1998 6:29:00 AM
From: Jerome Wittamer	Respond to of 60323

Jim, "someone in the know rolled over 500 puts..." Now the stock price : manipulated or not? Did you witness the behavior of the stock in the last 10 days? Limtex noticed drops in the last 10 minutes of trading. There were some in the first minutes of trading. Same pattern. Look at the chart. My understanding is the following : on very quiet days with a bad sentiment on Wall Street a small volume of stock is driven towards the market at low prices, the market maker lowers the ask and finds some bids, same game over and over leads to stock dropping 5% which entails some panic selling by small investors; moreover, breaking certain price points entails computer generated selling by big institutions. It's so easy to manipulate the stock as there's no liquidity at the beginning. Now the stock is plunging on heavy volume and investor sentiment has never been lower. I would assume some institutionals are kept at bay until the adjustment is over. We've been down 15% in 3 days. As a matter of fact, no 'recommandations' have been issued by analysts for quite some time, a possible indication of the involvement of investment banks. This is just the opposite as "pump and dump" stocks, where stock is hyped like crazy in order to allow insiders and venture capitalists to get out. Now that I have 'answered' some questions, let me raise one : Why is this stock manipulated like this? Why not the opposite? (We'd be too happy and would not care to ask!) Thanks for figuring the rationale. Jerome