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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: AJ Berger who wrote (1746)	6/14/1999 9:04:00 PM
From: mst2000	Read Replies (3) \| Respond to of 4443

Also, Goldman's Primex system is probably a year away from launch, possibly longer, and is apples and oranges to VTS. I think it meant very little. There are so many reasons for this, that listing them all is meaningless. In official responses to the press, Art Bacci said today that the company had no idea why the price dropped 20% today, and stated affirmatively that ATG is NOT in a cash crunch, as falsely asserted by iionline (and some in here). He said that the 10K would show this when it is released in 2 weeks. All other communications with the company by a variety of stockholders (myself included) produced essentially the same answer - the price drop is as inexplicable as the price spike which preceded it and the company is focused solely on executing its business plan. The next 3 or 4 days will tell a lot. If the price leakage stops, that will be significant (and if it continues, that will be significant too). If PHLX announces a VWAP launch date, as they have promised to do before the end of the month, that will also be significant. If the margin calls and stop losses will stop hitting, that can't hurt. An uptrend could attract increased long interest, which is clearly needed to establish a new price support base. I would think this latest trend is pretty close (if not at) the bottom, but my crystal ball leaves a lot to be desired. I was under the impression that ATG's chart was pretty strong before this latest sell off, which makes it difficult to understand, and that it is very weak right now. Any thoughts from those knowledgeable in technical chart analysis? Does this mean that a rebound, if it occurs, is likely to be more aggressive? Less aggressive? That more leakage is likely in the offing? Or is it a mixed bag with so many conflicting signals that a "chartist" prediction is more difficult than might otherwise be the case. Where does this bottom out, in the TA view? Thanks. MST

To: AJ Berger who wrote (1746)	6/14/1999 9:11:00 PM
From: wily	Read Replies (1) \| Respond to of 4443

>>No, Schwab took us all down today<< Actually, I was talking about the selloff of ASTN from the highs -- sorry I wasn't clear about that. I've heard a rule of thumb that speculative or momentum stocks tend to get 50% over-priced on the way up and 30% underpriced on the way down. Based on ASTN's gyrations, that would put it's "proper" price somewhere around $9-12. Internet flavored stocks are going to be even a little more extreme. Even considering this I'm surprised how low it went. What keeps institutions from getting together and starting their own system with their own interests in mind? w