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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Matt Webster who wrote (4297)	6/18/1998 4:06:00 PM
From: Chip Anderson	Read Replies (4) \| Respond to of 16960

Closed at 16 down 2 (-11.5%). Volume of 3.37M. I'm pretty sure that's the largest volume day ever. This is incomprehensibly bad. Chip

To: Matt Webster who wrote (4297)	6/18/1998 4:20:00 PM
From: Kevin M. Reilly	Respond to of 16960

Nobody has to be buying in the overall sense. The total volume can usually be reduced by ~1/2 due to MM to MM trades. These trades are not truly a transfer of ownership from one investor to another. Notice in the previous post or two the number of shares traded in blocks<1000 was close to 1,000,000. This might indicate that almost all of the volume was soaked up by day-traders hoping to flip it for a quick profit short or long. It is my guess that approximately (2-3)00,000 shares were sold by individuals getting out of TDFX today same as yesterday. The bad news as I see it is that there appears to be no concerted buying at the institutional level. Nobody with money to spend thinks today was the day to buy TDFX.