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To: Mark who wrote (278)	1/15/1999 12:33:00 PM
From: Albert Martin	Read Replies (1) \| Respond to of 571

No, not really. They don't like flippers and cut you out of the next IPO.

To: Mark who wrote (278)	1/15/1999 1:48:00 PM
From: David S.	Read Replies (1) \| Respond to of 571

I will give you verifiable truth and my opinion - Underwriters can penalize you for flipping IPO's, BUT as a rule of thumb, i have never heard of an underwriter penalizing anyone for flipping a "hot" IPO. At this point, internally, DLJ is likely laughing any anyone who doesn't flip (my opinion). My "feel" is that true institutional buying would/will come in at substantially lower levels. Institutions have pretty much flipped their IPO stock. Current trading is basically people sitting at home trying to make a couple bucks back and forth with zero regard to investment fundamentals. What is interesting regarding that is that when a stock is trading disconnected from the underlying company, by definition it does not matter what the company underlying the stock is. That type of a situation ain't my game. If it is yours, more power to 'ya.