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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
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To: J. Conley who wrote (9280)7/10/1998 5:09:00 PM
From: J. Conley  Read Replies (2) of 42804
 
**OT**

I posted a comment on MM's about a week ago. This is from yesterday's WSJ (paraphrased):

>>The SEC is preparing civil charges against more than three dozen securities firms and more than 100 traders. The case stems from the SEC and DOJ investigation over alleged price manipulation by dealers on Nasdaq. (Among the few specifically named in the article, Merrill Lynch. I believe ML is the third most active MM in MRVC, but there are many others.)

The SEC report, which is chock full of conversations among Nasdaq traders, both to one another and in sworn testimony, offered instances of traders coordinating their price quotations in a bid to fix prices on Nasdaq. For example, in one tape transcript, one trader asked another to move up his bid ¬ point above the selling price. At one point in the conversation between the two traders, the second trader admitted to "goosing [the stock] cuz." To which the first trader replied: "Thank you." <<

(this little exchange probably occurred around a resistance level that a lot of folks were watching.)

What does this have to do with MRVC? Maybe nothing, maybe something, (and that's why I posted this off topic) but all investors should be aware of the funny business that can and does go on with the MMs.
Do you think shareholders of the stock being manipulated wondered what was going on?

jc
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