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Non-Tech : CAOL: The Chinese AOL and Internet Lottery
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To: MIKE GOLDSTEIN who wrote (643)9/15/1999 9:12:00 AM
From: JoeinIowa  Read Replies (1) of 720
 
Mike,

It is impossible to use TA with BB stocks. The MMs manipulate the market way to much to trust it. Yesterdays drop was based on the Chinese governments reiteration of its no foreign investment policy. Here is Brian Ransoms response:

"Minister Wu Jichuan was reiterating a policy that has been in place from the beginning, not restating policy or informing of any new directives.

The position of CathayOnline is that it has been, and is, respecting the laws of the People's Republic of China.

Sincerely,

Brian"

I suspect the reaction was overblown. Can you imagine how far XNET will go down if they enforced it? CAOL has other income.

Joe

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