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To: sam who wrote (17870)	5/20/1999 6:18:00 PM
From: Jenne	Respond to of 41369

A Close That Smacked of Programs By James J. Cramer 5/20/99 4:51 PM ET Sloppy play! Ugly buying and selling! All I can say is that I am glad it is over and can't imagine having to trade 'round the clock with this kind of craziness. That's what we need, extended sessions of this kind of mindlessness. What happened today? What was that last half-hour about? To me it smacked of one nauseating program like we used to have a few months ago when those bizarre sell'em-if-they-are-down mutual funds raided the close. There was no getting your bids down fast enough, as it was all machine-driven. (I know this because I speak to real-live traders all day and they were not working big orders, say, of Cisco (CSCO:Nasdaq), or Microsoft (MSFT:Nasdaq) or Sun Micro (SUNW:Nasdaq) at the bell, to name three heavily sold off stocks.) Does that mean you can just go buy them because it was "program" selling? Absolutely not. The selling was just wildly exaggerated in velocity NOT size. There was not a lot of stock to blow out of at the bell. Small solace for those long NDX stocks. But solace nonetheless.