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To: H James Morris who wrote (46887)	3/23/1999 10:56:00 AM
From: Sarmad Y. Hermiz	Read Replies (3) \| Respond to of 164684

James, >> I've got to make long distance calls to find out. The low volume on the drops says something. In the previous drop to 85, volume was 3 to 4 million a day. When you consider nasdaq double counting and day trading, it means very little selling from big holders. Now also volume is very low. So the question is : at what level will brokers decide to reverse the drop ? I think either at 120, where Jamie Kerrigan stepped in last time, or at 100 where Blodget re-it his last report at CIBC. Remember M.M. of Morgan S. is still held in reserve. Reversing it at 100 is obviously much more profitable, especially if they can make it run to 140 again. I personally will cover some short at 120, probably today.