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To: Mark Fowler who wrote (37693)	1/29/1999 10:23:00 PM
From: Dr Smith	Respond to of 164684

This is my theory: The hoards of amateur daytraders buy in the morning, this forces shorts to cover, while the daytrader sell in the afternoon. So we get these extended short squeezes we have seen, on top on the mania. So much of the float is traded daily, but this is NOT a conspiracy, IMHO. Unfortunately, short squeezes corrupts the market, and then there is no connection between real valuation and the share prices. It all becomes a concern if it feels good, or not. Short squeezes are bad for long term investors if they don't remember to get out on top, and it compromises hedges that people need to balance their portfolios. These are just my observation, I have no facts, just suspicions.