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To: KeepItSimple who wrote (98948)	4/5/2000 2:05:00 AM
From: GST	Respond to of 164684

KIS: LOL <FRY LITTLE PIGGY> Thanks but I have all the abuse I can handle already :)

To: KeepItSimple who wrote (98948)	4/5/2000 10:25:00 AM
From: H James Morris	Respond to of 164684

Kis, fraud on Wall Street. No! it couldn't happen! >Yesterday, one reason for the sudden crash of stocks was margin calls -- customers sold stock because they were forced to put up more money on the margin debt they owed, says Clutinger. But that was only part of the story, says Dennis Muckermann of Alexander & Muckermann. He says that Nasdaq market makers and New York Stock Exchange specialists, central market makers for individual stocks, on certain days take stock prices quickly down to an extreme, with wide spreads between bid and asked prices, and then start buying for themselves at a deep discount. "A stock goes down quickly from $100 to $85, to $75 to $65 -- but if you try to buy at $65, the price is back at $80 or $85," says Muckermann. "It's a game -- almost a fraud." The public gets sucked in every time, just as it is now getting sucked into the idea that yesterday's selloff and rebound represented a climax and definite buying opportunity. That's true on the short run, he says. He is planning to do some short-term buying. But longer range, "this was another milestone on the bear market that probably began in January," he says.