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To: Gary E who wrote (22604)	1/16/1999 9:15:00 PM
From: MeDroogies	Read Replies (1) \| Respond to of 213177

I'd say unless you have some particular signs that indicate accumulation is underway....well, then it ain't. However, if it IS, then NOW is the best time to do it. Buy it in moderate sized lots as the price falls..... I wouldn't be surprised if it IS under accumulation.

To: Gary E who wrote (22604)	1/17/1999 3:45:00 AM
From: HerbVic	Respond to of 213177

H G, >>How do you detirmine that the stock is under "accumulation" all the while sellers are letting the price fall ? << Actually, there is no way for me to know whether or not the stock is under accumulation. It was more of a judgement call while watching the action part of the day Thursday and all day Friday, looking for the lowest entry point. Using the average size trade gives us some indication of institutional activity, however it is more accurate to just watch the action. The volume on the bid side remained high throughout the downturn. The volume on the ask side was just stronger and more determined. The mean trade size was reported to be near 1000. The median I would guess to be nearer to 500. The difference was due to large block trades throughout both days. The accumulators seemed willing to buy large blocks at any level while patiently waiting for more shares at even cheaper prices. It was the proximity of the closing bell on Friday that drove buyers to start outbidding each other, thus driving up the price by $1 in the last hour. Sellers were not "letting the price fall." They were causing the price to fall by trying to beat each other to the best price for a faster sell. So much so that, for much of the time Friday, trades were steadily going through at the ask, and yet the ask would drop. >>Seems to me that if it was being "accumulated" the buyers would be only offering stock at a higher price? << Accumulators would not yet be selling. They would be accumulating. The selling was most likely driven initially by sell-on-the-news, then momentum took over due to options expiration as investors close positions. One other thing. My "accumulators" may perhaps be no more than short covering, but it is my fair assumption that it is both accumulation and short covering driving the bid. If it were not for the accumulation, the shorts might not be trying so hard to cover. HerbVic