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To: H James Morris who wrote (16090)9/4/1998 12:27:00 PM
From: Jan Crawley  Respond to of 164684
 
Now, I do have a concern when I see the little guy paying $145 for a concept and two weeks later seeing it at $65. But, that's life in the Casino.

James I do believe the 2 million plus insiders sale was largely responsible for the drop from 137 to 65. The shorts profit taking(via puts too) was largely responsible for the supports.

The up-coming/anticipated 3 million shares sale (plus the additional insider sale) before/during October will be another wonderful opportunity for all!!

The little guys(if they indeed was part of the driving force for the past 6 wks and bot a bunch at $130 plus prices); They are hurting and learning their lessons!!

However, I still "trust" your float and sellers were/will be the controlling variables.



To: H James Morris who wrote (16090)9/4/1998 9:36:00 PM
From: Glenn D. Rudolph  Respond to of 164684
 
FED'S GREENSPAN: GLOBAL TURMOIL TO FURTHER BRAKE US ECON

Futures World News - September 04, 1998 19:23
%FED %FINANCIAL %ECONOMY %CURRENCY %STOCK V%FWN P%FWN

Washington-Sept. 4-FWN--RISKS FACING THE U.S. economy have grown more balanced since spring, with global economic turmoil increasingly likely to brake U.S. economic activity, Federal Reserve Board Chairman Alan Greenspan said tonight.

In remarks prepared for the Haas Annual Business Faculty Research Dialogue at the University of California at Berkeley, Greenspan said, "it is just not credible that the United States can remain an oasis of prosperity unaffected by a world that is experiencing greatly increased stress."

He noted that in the spring and early summer, the Federal Open Market Committee (FOMC) was concerned that a rise in inflation was the primary threat facing the continued expansion of the U.S. economy. By the time of the FOMC's most recent meeting in August, risks had become balanced.

"The committee will need to consider carefully the potential ramifications of ongoing developments since that meeting," Greenspan said.

The FOMC voted to maintain a tightening bias toward interest rates through at least its June 30-July 1 meeting, the last for which minutes have been released. Speculation has mounted, however, that the policymaking body may have adapted a so-called neutral bias at its August gathering.

Greenspan warned that as "dislocations abroad" mount, feeding back on U.S. financial markets, the U.S. economy is likely to see further restraint.

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