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Technology Stocks : America On-Line: will it survive ...?

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To: Brent D. Beal who wrote (4582)8/22/1997 12:58:00 PM
From: Harry Larson   of 13594
 
Maybe ridiculous. But you're fighting a number of trading desks
who daily churn their inventory big-time to maintain the price
for their institutional customers, and to facilitate block trades
that account for 40% of the volume (not to mention set up and
take down of shorting opportunities). And, of course, some
institutions also will churn their holdings in the same games.

All done legally, but a scandal nonetheless (as is the coincidence
of degrees of bullishness among analysts, some of whom reiterate
'strong buy' at least monthly).
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