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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (5509)	2/11/1999 10:22:00 PM
From: E. M. Edds	Read Replies (1) \| Respond to of 11130

Wayne, Regarding VERI, I think that is exactly what happened today. People, in general, who invest in IPO's are doing so based on the immediate gains available by doing so. Accepting that fact, most investors who confused VERI for VERT have already been informed or have become aware of that mistake, which was reflected in the sell-off from $5 to$1 today. That leaves investors who intended to invest in VERI, who may buy more at these prices, or hold anyway. Then that leaves investors like Kimberly and me and whomever else who realize there are three groups now watching VERI: 1. Old investors before the confusion, who will likely buy more or hold. 2. New investors attempting to capitalize on the 30-50% discount from previously established levels of VERI (2.25+). 3. Investors who confused VERI for VERT, and are holding or will average down to achieve a break-even or better. I think there's a lot of potential here.

To: Wayne Rumball who wrote (5509)	2/11/1999 11:17:00 PM
From: Kimberly Lee	Read Replies (2) \| Respond to of 11130

The mms already took VERI down to under 1 when I hit them with the buy order -- it was about 3/4 x 1 1/8. Right after I bought at 1, within 20 seconds, the inside market became 1 x 1/8. I took their offer at 1 1/8 again, plus several buy orders came in. Two minutes later, it upticked to 1 1/8 x 3/16. More buying pressure began to mount throughout the afternoon, and the stock closed at 1 9/16 x 3/4. VERT was forced to change the symbol to VERI yesterday -- the dummies who bought them all the way up to 6 1/2 already had 2 days of panic selling after the sudden symbol change. MMs shorted lots of this stock above 5. I know some of them are anxious to cover at a reasonable price. Judging from the tape action, today is the key reversal day, with the selloff climaxing at the moment I placed the large buy order at 1.