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To: port_mgr who wrote (6023)12/14/1998 10:08:00 AM
From: ENOTS  Read Replies (2) | Respond to of 21143
 
The following is a reply to the inquiry to the sec re the after hours trade....A computer generated reply, this is the first step on the journey to the shredder, your tax dollars at work!
I too am a little dismayed that anyone would take a 15% hit for a trade such as this,... and is causing me to raise my eyebrows, trying to understand and get a better look at this, I would hate to have to unload my holdings at a % cut like that! hummmmmmm

here is the reply!

Dear Sir or Madam:

Thank you for your recent e-mail to the group electronic mailbox of the
Division
of Enforcement at the United States Securities and Exchange Commission in
Washington, D.C. This automated response confirms that the Division of
Enforcement has received your e-mail.

We are always interested in hearing from members of the public, and you may
be
assured that the matter you have raised is being given careful
consideration in
view of the Commission's overall enforcement responsibilities under the
federal
securities laws. It is, however, the Commission's policy to conduct its
inquiries on a confidential basis. The Commission conducts its
investigations
in this manner to preserve the integrity of its investigative process as
well as
to protect persons against whom unfounded charges may be made or where the
Commission determines that enforcement action is not necessary or
appropriate.
Subject to the provisions of the Freedom of Information Act, the existence
or
non-existence of an investigation as well as information which may be
gathered
thereunder is not disclosed unless made a matter of public record in
proceedings
brought before the Commission or in the courts.

Should you have any additional information or questions pertaining to this
matter, please feel free to communicate directly with the undersigned at
Mail
Stop 4-5, 450 Fifth Street, N.W., Washington, D.C. 20549 or via e-mail at
enforcement@sec.gov.

We appreciate your interest in the work of the Commission and its Division
of
Enforcement.

Very truly yours,

S/
John Reed Stark
Chief, Office of Internet Enforcement
US Securities & Exchange Commission
************************************************************
this so instills me with confidence, I am sure a bevy of lawyers are already assigned to this request, and I will receive a prompt response, around June 99 or July 99 at the latest. RIGHT ..



To: port_mgr who wrote (6023)12/14/1998 10:35:00 AM
From: steve olivier  Read Replies (1) | Respond to of 21143
 
Port_mgr, well all I can say is that whoever handled your friend's trade, ripped him off. I assume your friendl knew he needed to get out before the recent trade show. If I were working his position I would have been selling into the strength we saw leading up to the show.. Then I would have covered by taking his block. And I would have been able to take it at a much higher price and still make a good profit.

Why do I think this is what happened? I guess it is just my skeptical nature.