Broad-band (ultraviolet to near-infrared) observations of the intense gamma
ray burst GRB 990123 started similar to 8.5 hours after the event and cont
inued until 18 February 1999. When combined with other data, in particular
from the Robotic Telescope and Transient Source Experiment (ROTSE) and the
Hubble Space Telescope (HST), evidence emerges for a smoothly declining lig
ht curve, suggesting some color dependence that could be related to a cooli
ng break passing the ultraviolet-optical band at about 1 day after the high
-energy event. The steeper decline rate seen after 1.5 to 2 days may be evi
dence for a collimated jet pointing toward the observer.