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Strategies & Market Trends : Shorts waiting to happen

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To: Kris Barski who wrote (341)	7/24/1996 11:13:00 PM
From: Gary Walker	of 852

A letter to Nasdaq: Sent today.... Dear Sirs: The amount of volatility in stocks traded on the Nasdaq is threatening the future of the system. I've invested for years and can only say that the ranges in one day for some securities is unprecedented and absolutely ridiculous. How can the leaders of this market system sit lifelessly watching while the value of a company varies + or - 15% in one day! Pairgain Tech. (PAIR) ended Tuesday at 44. On Wednesday PAIR dropped to 39, hit a high of 50 and ended the day at 48. That's over $400 million swing in market value in one day! This is crazy! This was without news to effect the stock! No hard news! I suspect this market is being manipulated and will self-destruct unless the leadership of the exchange steps in to discipline unscrupulous specialists and market makers. Sincerely, Gary Walker

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