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To: Jenne who wrote (4758)	2/9/1999 8:16:00 PM
From: John Carpenter	Respond to of 41369

I often wonder why it takes several days for a selloff to run its course. If you believe the efficient market hypothesis, all known and anticipated news should instantly be reflected in a stock price. Perhaps how it really works is that when an institution has several million shares to dump, it does it in pieces. In the meantime small bottom fishers like myself scoop up these pieces on the way down. There are enough small fish like me to slow down the downward slide, but not to stop it. Finally, the big fish start buying at the true bottom.