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To: semi_infinite who wrote (1498)	7/17/1999 4:46:00 PM
From: Q.	Read Replies (1) \| Respond to of 3661

I noticed the price dip too late to act, or I would have bought more shares at 11. Manipulation? Maybe. But it didn't seem to have a lasting effect.

To: semi_infinite who wrote (1498)	7/17/1999 8:52:00 PM
From: Doug B.	Read Replies (1) \| Respond to of 3661

manipulation Something definitely smelled yesterday. Someone sold 43 August $12.5 calls and the same (or affiliated, my guess) placed a 65K block at the opening to drive the price down. Then "they" bought the 65K (and I assume the calls) back at the lower prices. The day's volume was about 130K above average (NASDAQ double counts), and I don't think that was coincidence. The stock hit a low of 10 3/8 just above a 3K limit order block at 10 7/16, and that was no coincidence either. This stinks to high heaven. May I ask when did you first notice the sale of the calls, and your affiliation? I wasn't savvy enough to actually look at the movement in options. (I only opened an options account a couple of weeks ago.) I just guessed that someone was messing with things because they had written July 12 1/2 calls that they wanted to make sure stayed out of the money until people dumped them before the end of the day. Given that it was August calls I guess, doesn't make a whole lot of difference. I worked as a software engineer for about 6 years after college, but now I'm in graduate school full-time. No professional investing affiliation. I'm just a guy, playing with my 401(k), a Roth IRA, and my personal savings. I don't know. What happened is definitely manipulation, but is it _illegal_? Precisely what are the laws/rules/etiquette involved if you have enough assets to move the market? Learning as I go. This was the first expiry day I have followed with any real knowledge of what it meant. Doug