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

To: Arcane Lore who wrote (2305)	8/10/1999 9:37:00 PM
From: AJ Berger	Respond to of 4443

Only take this for what it's worth a reliable friend who's nephew seems to work for one of ASTN's networking vendors, claims the launch will take place early September AFTER the shareholders meeting, and not before. This guy first turned me on to ASTN way back when it was trading at $5. a whole week BEFORE the big move way back then to the $8 range. He also sold at $16, when he first was told about the previous delay, so he's timed this stock remarkably well so far. He actually asked me (we trade ideas) if I would buy into it again, and I told him how worried I was about so many people waiting to Sell on the launch event; that I worried the risk reward in timing this one right may not be worth the trouble. I also pointed out the grown short position and eventual dilution. I also told him how good support seems to be at $8 range while the markets is down. Since he already made his money on this one, he's in no hurry to buy it back again, and was much more interested in any fresh ideas I had for him to consider, so I told him consider buying USAB instead. [this is not meant to slam ASTN or a boost for USAB. I am simply reporting an exchange I had with an individual who has demonstrated good timing with this stock in the past, as well as an inside line of timely information.]

To: Arcane Lore who wrote (2305)	8/11/1999 1:55:00 AM
From: mst2000	Read Replies (1) \| Respond to of 4443

Thanks for the links and the info. I think we are largely talking semantics - but yours is clearly the more accurate statement. What I was describing as "central" to the NASDAQ limit order book (the one that is revealed by NASDAQ Level II and III connections) is that is discloses all limit orders placed by NASDAQ MMs unless they get executed before they are posted because the market is moving so quickly - so it is "central" as it relates to the trading of NASDAQ listed stocks through limit orders placed by NASDAQ MMs outside of ECNs. It is not "central" in the sense that it does not include limit orders placed through ECNs (though, if some ECNs don't match a limit order within X minutes, they then place the limit order in the NASDAQ limit order book, so that it can be executed rather than sit interminably unmatched). Anyway, so I called the NASDAQ a central limit order book when in fact it only picks up ECN unmatched spillover, and not all limit orders on all ECNs and exchanges (which my original post acknowledged by pointing out that ECNs first try to execute internally, and only after some time lapse moves the order into the NASDAQ LOB). My apologies for creating any confusion. Thanks again for the correction. MST