PERF launches WWW Stock Exchange Message Board

STOCKTALK

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Technology Stocks : PERF launches WWW Stock Exchange

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To: Jeffery E. Forrest who wrote (19)	8/7/1996 11:49:00 PM
From: bob mackey	of 49

PERF up 50% on SEC news approving Internet stock trading Today (7 August, 1996) at about 1:30 EDT, the news of the SEC's approval of PerfectTrade was announced. The news drove the share price up from about 1.75 to 2.75 before market close. I've been waiting and watching and hoping to jump in quickly. The question is will it gap up before opening tomorrow and by how much? With the small float, this stock will be quickly overbought, and then corrected. For traders it could offer a quick long and short opportunity. For investors, the question is will their Internet trading service succeed. I've looked at their website, and don't think I would find their trading system very useful myself. It may suit long-term investors well, but it won't handle quick trades well. To take full advantage of the Internet, it will have to do away with the paper transactions that are now required. How high do the speculators think this might go this week? How long will it take to find out if their trading system is viable? The infrastructure to handle large numbers of trades doesn't appear to be in place right now. Once running, how profitable will it be? -bob mackey

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