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Non-Tech : Ashton Technology (ASTN)

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To: AJ Berger who wrote (1746)	6/14/1999 9:11:00 PM
From: wily	Read Replies (1) of 4443

>>No, Schwab took us all down today<< Actually, I was talking about the selloff of ASTN from the highs -- sorry I wasn't clear about that. I've heard a rule of thumb that speculative or momentum stocks tend to get 50% over-priced on the way up and 30% underpriced on the way down. Based on ASTN's gyrations, that would put it's "proper" price somewhere around $9-12. Internet flavored stocks are going to be even a little more extreme. Even considering this I'm surprised how low it went. What keeps institutions from getting together and starting their own system with their own interests in mind? w

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