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To: William Epstein who wrote (6374)	12/7/1998 5:07:00 PM
From: Flan	Read Replies (3) \| Respond to of 7841

Will - Isn't it time you gave the specialist conspiracy crap a rest. Your posts last year showed you do not know anything about how they operate, their leverage, their strategies or their potential exposure. There are much larger forces at work here. If you learn how they operate then you will realize there is no conspiracy ----

To: William Epstein who wrote (6374)	12/7/1998 9:06:00 PM
From: chichi	Read Replies (1) \| Respond to of 7841

William, I have read some of your posts and it seems you are misunderstanding the role of the specialist. The moving averages are no more controlled by the specialist than by any other institution that is buying and selling the stock. Many of these institutions have just as much capital, if not more, to move the stock. The only difference is that only the specialist knows what orders are on the book. The specialist is there to keep a fair and orderly market, and will move the stock around on a day to day basis in order to do this. For instance, if there is a buyer of 50,000 shares and no sellers, the specialist might run the stock up s quarter or half a point, make the sale and then try to bring it back down to buy the shares back lower. The longer term movements of a stock are a result of funds/institutions taking positions along with the individuals and the general direction of the market, not by the specialist.