Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jenna who wrote (22114)	1/15/1999 12:09:00 AM
From: kha vu	Read Replies (1) of 120523

WSJ: Heard on The Street 01/14 -- Internet Traders Had It Tougher Than the Shares Internet releated stocks were more resilient than the Internet trading firms. The stocks did bounce back (ending 01/13) BUT the online trading itself was a major problem. Web message boards were full of complaints about ETRADE, Waterhouse and Ameritrade. It is a rumor that Soros Fund Management and Tiger Management are buying Internet stocks and hedge funds are covering their short position in these stocks. Charles Schwab processed a record of 100,000 internet trades in the first hour of yesterday. Many NASDQ dealers are frustrated with their inability to trade the fast move of the Internet stock: up 30 points in five minutes. Some are starting to drop out. Bernard Madoff Investment Securities will stop trading Amazone, Yahoo and Infoseek. Bear Sterns dropped trading CMGI which Bear did about 8% of the trading last month. About 10 independent traders leave their trading posts in option like Yahoo, Amazone and Onsale because they are taking positions that get hurt as volatility increases. It is reported that individual investor using Internet to trade run into problem: Webbroker of Waterhouse was shutdown twice in the last two days. It took 15 minutes to an hour for customer to put an order thru the phone. An investor with accounts at Ameritrade and Discover Brokerage Direct has to cut down the number of trades to only three instead of the usual eight or so. Besides those technical problems, traders try to protect their own firm capital while executing customer trades during the period of extreme volatility: when a stock is rising or falling 10 point in minute, it can cause a big gaps in price as traders attempt to position themselves. NASDQ committee looks into extreme measure such as to halt trading of a particular stock such as BROADCAST.com and allowed to reopen only when it confirms that there is no pending news. Yesterday Broadcast.com stock got hampered by the expiration of a lockup period that barred some insiders from selling. Some said that eBAY and Geocities may face similar pressure in the near future.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next