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Non-Tech : NovaCare Employee Services (NASDAQ:NCES) -- Ignore unavailable to you. Want to Upgrade?

To: Dave who wrote (287)	3/9/1999 7:32:00 PM
From: Dave Hanson	Respond to of 376

Dave, thanks for the very useful post. With the downgrading of NOV's debt and their not ruling out selling their NCES stake, we might have an explanation for the outsize surge and ebb in NCES. Please keep us informed if you hear anything else. FWIW, I sold half my stake at 8 25/32, suspecting it was getting ahead of itself, only to buy it back at 7 29/32 shortly after. (Sure didn't see a 1/3 correction coming!) Thus I'm still holding my whole wad too. Regards, Dave

To: Dave who wrote (287)	3/9/1999 7:43:00 PM
From: apro2299	Respond to of 376

For those of you still watching, NCES has been looking for suitors and a large insurance company has definitely been interested. They need the payroll processing and single point billing (for insurance products) capability of NCES and access to their accounts. I would expect a strategic alliance within the next few days but the buyout may take a while longer

To: Dave who wrote (287)	3/9/1999 11:29:00 PM
From: Todd D. Wiener	Read Replies (1) \| Respond to of 376

It would make sense for NOV to sell the stock to several institutions, rather than dumping it on the open market. I have no idea how much they'd sell (all of it to raise close to $175 million), but once it's done, NCES should perform better, since folks won't be afraid of NOV selling shares anymore. I can see how the stock would drop after the report was issued, but why would it have broken out in the first place? And why such high volume? I've always said that the institutions are the dumb money in the market, while we individuals are buying and holding. It's somewhat disconcerting that the stock broke its new support, despite the relatively low volume. Perhaps it will snap back tomorrow. I'm looking forward to reading that report. And why haven't we heard from our strongest supporter, BKB Robbie Stephens? The stock should be worth $13 in a buyout. Todd