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To: RockyBalboa who wrote (13058)	4/3/1999 10:22:00 PM
From: zurdo	Read Replies (3) \| Respond to of 27722

<<It can be done....on the backs of the ordinary stockholders>> I will concede this, Christian, it was not too thrilling to see Cheney, the Navarre CFO, selling 150K shares at IPO filing announcement time...It gives the impression that he had little faith in NAVR's prospects for a very successful run at IPO launch time...Having said that, I think he was wrong, and he will kick himself in the @ss when NAVR goes into the high 40s, 50s, and possibly even the 60s....The CEO, to my knowledge, is waiting for a better price...He is smarter...At any rate, NAVR is going up to very impressive heights in spite of what seems to be mediocre management..I still think Anthony and your group did most of the damage to the IPO filing price climb....You people shorted a lot more than 150K shares in my opinion...