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Technology Stocks : Emulex, What Prospects? -- Ignore unavailable to you. Want to Upgrade?

To: Ron Kline who wrote (558)	8/26/2000 12:51:24 AM
From: Surfer	Read Replies (2) \| Respond to of 788

Ron, <They need to make an orderly market ...> But, the gap-up is huge. Also, within a minute or two of re-opening it, like Greg said, EMLX dropped to $107 or so. How can it be an orderly market? If MM can't prevent a huge gap up, why bother halt it. Let everyone have a fair chance to trade and let the stock find its own balance. So many people had no chance what so ever to trade the stock due to this huge gap-up at the re-open. Repeat myself, how can this be an orderly market? Understand that MM are human too. They can drop the bid fast. Fair game. But, halted and then re-opening it with a huge gap-up is not a fair game. Lot of people who would want to buy-back, short-covering, etc. were taken out of the game with this huge gap-up. Wish, MM can give interview to CNBC and explain/justify the gap-up of about $70 or so. In my opinion, if EMLX re-opened at or near the halted price, $45, then no one could complain, because the chance is even field... Please educate me. Appreciated. Thanks.

To: Ron Kline who wrote (558)	8/26/2000 6:19:20 PM
From: Kevin McKenzie	Respond to of 788

Ron, Well said. I think anger at the MM's is misplaced. As the stock declined from the low 100's to the 40's. I think it was the MM's that did most of the buying. In other words. they were obligated to buy hundreds-of-thousands of shares in the 90's, 80's, 70's, 60's, 50's and 40's. If the hoax had been true, or had not been cleared up in the same day, many of those MM's would likely have been wiped out. Anyone who accuses the MM's of participating in this has to ask himself: "If it was such an easy decision for the MM's to buy at depressed levels, then why didn't you buy?" You could just as "easily" have bought all the shares you wanted at 50 to 70 and sold above 100 a couple hours later. I, for one, was much too petrified to buy at those levels. I'm glad I wasn't obligated to buy, as were the MM's.