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To: Paul Brimhall who wrote (5476)	8/15/1998 12:23:00 AM
From: Stitch	Read Replies (4) \| Respond to of 7841

William, Thread: <<This is a big deal when the market is acting so poorly.>> This is so true and is causing me no small amount of angst. What a paradox I feel I am facing. All my antennae are very bearish on the market in general and yet...I have been sitting and waiting for the very signs we are seeing in the DD and semiconductor segments. What to do? What to do? I confess...I am utterly confused. Best, Stitch

To: Paul Brimhall who wrote (5476)	8/15/1998 6:35:00 AM
From: William Epstein	Respond to of 7841

Paul; It doesn't surprise me. When institutions buy big blocks unless the specialist is already, sitting on a lot of stock, he is forced to sell short, in order, to supply a market and fill the order. He can continue to do it for some time, depending on demand. I expect to see the price go down next week and then there will be another spike in the price or shorting rally. I call it the horns of the bull. After the second spike the price will drop like a stone so he can cover his shorts. However, is one caveat, that is unless he is accumulating for his own book although, I doubt it. If he has accumulated stock for his own book, he's done it already at lower levels. He may be ready to drop it, as early as, Monday. Longer term, if this is institutional buying, it means good things for the stock and that is what I meant when I spoke about seeing, whether or not, this is an investor led rally or a specialist led rally. Next week's trading patterns will give us an answer. My best guess? It is specialist led. There is not enough solid news to justify a continued rally. I've been wrong before but someone has to have courage and make a call! William Epstein