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To: Dale Knipschield who wrote (3039)	2/16/1999 2:59:00 AM
From: Dale Baker	Respond to of 118717

The Yahoo profile shows the float at 5.8 million out of 9.39 million outstanding. They may have held 7 million before, but they seem to have sold a big chunk of their holdings since 1/97. OTOH, Briefing's Company report still shows 73% inside ownership. Maybe they sold their shares to each other? Strange. I agree that insider selling is harder to interpret than insider buying. But I see this company's stock struggling to make it even into the high teens while insiders are unloading a significant part of their holdings. And PSEM's competitors haven't done well either, which makes me suspicious of the whole niche. But I am not an expert in the semi field. I just see a stock which should trade in the $20 - 25 range, languishing instead.