Compaq Message Board - Msg: 3045425

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Technology Stocks : Compaq

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To: ed who wrote (12138)	12/27/1997 7:30:00 AM
From: Bill Fischofer	Read Replies (2) of 97611

Re: MMs A few basics. As an NYSE issue there are no Market Makers for CPQ. The NYSE is an agency auction market. See nyse.com for an overview of how the NYSE works. Stock manipulation is illegal but sometimes does happens, typically in OTC:BB and smaller NASDAQ issues. See recent fines levied against MER and other brokerages for examples. The NASD and SEC are responsible for ensuring and enforcing the integrity of the financial markets. NASD Regulation at nasdr.com is a good place to start for information about the regulatory process. The SEC website at sec.gov is also a valuable resource for this and other information. CPQ's recent weakness has nothing to do with 'manipulation'. What you are seeing is nervous portfolio managers locking in 1997 gains in the face of worries over Asia. Come January 1st these same porfolio managers will be starting a new year flush with cash looking for bargains. They'll find them in many of the same stocks they sold in December. Happens every year, just more pronounced this time around.

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