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Technology Stocks : Neomagic Corp. (NMGC)

NMGC 0.00730

-43.8%

Nov 7 9:54 AM EST

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To: Dana Breite who wrote (2484)	2/8/1999 9:27:00 PM
From: vincenzo	Read Replies (2) of 3645

Dana - That was a nice pop today, and it looks good on the chart with a higher high and a higher low for the day. The real test comes tomorrow where Neo needs to take out the number $14 entirely and eliminate it from it's vocabulary. $14 is the number Neo gapped down to primarily on that monkey business by Mark Edelstone from Morgan Stanley. Why it is legal for a MM who can carry a huge short position in a stock to issue a downgrade on that stock? It shouldn't be - and I wonder how it would fare if it was tested in the courts. I think I know the answer to that one too. However gross, monkey business is standard operating procedure in Nasdaq trading. One should not underestimate the power of the shorts, even short monkeys, to manipulate the market to their advantage. Neo could help rein in broker's abuse of the system by declaring a significant stock buy-back and add some purchasing power to the supply - demand balance in these fear-driven dips. Meanwhile, the overpaid analysts who provide such timely analysis, ostensibly for the benefit of their customers, are elevated to positions of high esteem for calling moves that they create with their upgrades and downgrades. (After the sponsor MM is suitably positioned of course.) To my great amusement, I was sent a video of Mark Edelstone, caught in his natural habitat in what he thought was a private moment. All the preconceived notions I had have vanished. dnai.com This is a 1 Meg file and takes about 10 min. to load but it is worth it for a balanced perception of one of the key driving forces in Neo's stock price. vincenzo

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