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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.00Nov 26 4:00 PM EST

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To: Lucky Charm who wrote (5141)7/9/1998 12:11:00 PM
From: thomas oakley  Read Replies (1) of 43774
 
I am not downplaying the news(which I think is great) but the stock market is run not only by news but also by good old supply and demand. I was just saying that that(droping below the gap up)is a negative indicator in the s & d area.

by the way did anyone see this news. This could be great for us--maybe we will finaly get some fair play from the mm's

Thursday July 9 5:30 AM EDT

SEC prepares Wall Street charges - WSJ

NEW YORK (Reuters) - The Securities and Exchange Commission has told Wall Street securities
firms it is preparing civil charges against more than 100 traders and nearly three dozen firms in
connection with alleged price manipulation on the Nasdaq Stock Market, the Wall Street Journal
reported Thursday.

In conjunction with that move, the nearly three dozen Wall Street securities firms have begun
preliminary discussions with the SEC as part of an effort to reach an industry-wide settlement over
disciplinary cases stemming from trading violations on Nasdaq, people familiar with the situation told the
Journal.

The SEC's case is an outgrowth of a two-year investigation that the SEC and Justice Department
launched in 1994 into Nasdaq dealers. The probe yielded thousands of hours of taped conversations
between Nasdaq traders upon which the SEC has built its cases, according to the newspaper.

The settlement talks, if successful, are likely to result in Wall Street paying its first set of fines to settle
regulators' allegations of trading violations on the Nasdaq market.

Among the firms that the SEC has held settlement discussions with are Merrill Lynch & Co., the
biggest U.S. brokerage firm; Morgan Stanley Dean Witter & Co.; PaineWebber Inc.; UBS Securities
Inc., a unit of Union Bank of Switzerland, and Charles Schwab & Co.'s Mayer & Schweitzer Inc. unit,
the paper reported.
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