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Technology Stocks : Intel Corporation (INTC)

INTC 38.16

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3:59 PM EST

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To: Road Walker who wrote (43188)	12/25/1997 3:09:00 PM
From: Greg Luke	Read Replies (1) of 186894

John, Thanks for the explanation. FYI, I ran across the following article today: "BROKERS TO PAY $900 Million: More than 24 US brokerage firms -- including Merrill Lynch, Goldman Sachs and Morgan Stanley -- are expected to agree to pay US$900 million to settle an investor class-action lawsuit charging collusion to fix prices on the New York Nasdaq stock market, said lawyers involved." No further information, but it is interesting to note that the payment is a result of a class-action lawsuit, not the SEC regulators. I have a suspicion that someone figured out how the logic that the computers apply to make "programed trades". Armed with this information, it would be easy for a few large firms to shake the market just a little, and let the program trading take over. The result is a as you discussed. Interesting issue; perhaps of crisis proportions if the practice proves to be wide-spread. Regards, Greg

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