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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (79022)	4/4/2000 5:00:00 PM
From: S. maltophilia	Read Replies (1) \| Respond to of 132070

OK, BGR, I'll bite. Tell me what data hit EXDS today, that made it worth $92 at one point and $140 at another. Or, if you'd prefer a blue chip, INTC $119 & $134. We're not done with the volatility yet; in fact I think we've just begun. In the spring and summer of 1987, comparable intraday swings were almost a daily event. There were also plenty of opportunities to get whipsawed in 1929, but I don't have as clear a recollection of those events.-g-

To: BGR who wrote (79022)	4/4/2000 6:57:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

BGR, >>Tonnes of new data hit the market between these two times. Market is efficient only with respect to existing data.<< I know the "(bg)" is somewhere in your post. I just can't find it. (g) Wayne

To: BGR who wrote (79022)	4/5/2000 9:04:00 AM
From: Freedom Fighter	Read Replies (2) \| Respond to of 132070

BGR, >>Tonnes of new data hit the market between these two times<< It's really tough to take you seriously when you say things like this. There are a few things we can say about yesterday's action with some degree of certainty. 1. Margin calls were playing a part. Several brokers reported increased margin calls. 2. Some people were probably stopped out of some positions. I know one person that "had" stop losses on his tech holdings. 3. There was definitely "some" short covering involved in the rally back. I personally know shorts that were covering at the height of the panic. 4. There was a least some panic selling. None of the above has anything to do with the underlying values or prospects for most businesses. (brokers and banks are perhaps an exception) Many stocks moved 20%-30% intraday. There's simply no way their values changed that much between 1:00 and 4:00. There was very little in the way fundamental business developments yesterday. Wayne