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To: the Chief who wrote (48113)2/28/2001 2:38:47 PM
From: Canuck Dave  Respond to of 62348
 
I'm in Victoria and felt it. Dishes rattled and floor rumbled, but that was about it.

Got the TV on one of the Seattle stations. Some widespread but fairly minor damage.

CD



To: the Chief who wrote (48113)2/28/2001 2:42:54 PM
From: Flea  Respond to of 62348
 
I couldn't feel it as I was already banging my head against the desk.

It was centred in Seattle...looks worse there:

cnn.com



To: the Chief who wrote (48113)2/28/2001 3:46:43 PM
From: Rocket Red  Read Replies (1) | Respond to of 62348
 
Up-Graded to 7.0 and maybe Vancouver will get the Big One as was predicted a couple of years ago.



To: the Chief who wrote (48113)3/1/2001 12:47:59 AM
From: CIMA  Read Replies (2) | Respond to of 62348
 
JDS a play according to this:

To OTC Journal Members:
Market Comment

The market was poised to rebound today in anticipation of Alan Greenspan's testimony on Capital Hill. This week's Consumer Sentiment numbers fell off a cliff and had all of Wall Street convinced that Greenspan would finally admit a full blown recession was around the corner. It was expected the FED Chairman would act aggressively to cut interest rates before week's end, sparking a rally in stocks.

Wall Street could not have been more wrong. In his opening remarks Mr. Greenspan made it clear he was not convinced the economy was slowing as rapidly as stock prices reflect. He spoke at length about corporate management's use of technology to respond nearly instantaneously to changing market conditions. He stated that manufacturing could react nearly in real time, leaving less concern about inventory build ups and allowing the modern corporation to rebound from an economic slow down much more quickly than at any time in history.

When asked about slowing consumer demand as a result of the end of the Wealth Effect caused by the dramatic rise in stocks, Mr. Greenspan quipped: "As a colleague of mine once said, Wall Street has successfully predicted five of the last two recessions."

The NASDAQ responded with another bloody day closing at 2151.83, the lowest level since 1998. We are now 59% below the all time high. At 62% we match the worst bear market in modern history. This happened during the 70's when the Prime Interest rate was 19%.

If Mr. Greenspan is right corporate performance will not be as bad as Wall Street would have us believe. If there is evidence of positive corporate performance stocks should begin to behave a little better.
Trading Alerts

Traders on Wall Street now believe there are no events which could propel stocks higher. Experience tells us the market generally does the opposite of what everyone expects.

We are not market technicians, but we know some really good ones. They believe there is a high probability of a short term relief rally. We have decided to bring you two of their ideas as trading alerts. Our editors are going to act on these ideas for their own accounts in the morning, so we will be in there right along with you.

One important warning: A gap down in the morning would be ideal if you like these ideas. If the market gaps higher, wait for a pullback before taking any positions.
JDS Uniphase (NASDAQ: JDSU)

JDSU is one of the leading names in Fiber Optics. This stock is highly volatile and has fallen off a cliff in the last 10 trading days. The stock was nearly $56 on February 1st, and today closed at $26 3/4.





The company has recently announced lay offs and ramped down projections, leading us to believe all the bad news is already built into the stock.

Stochastics are depicted in the middle chart. Note every time the line gets to 0, the stock rebounds. It started up from the 0 mark towards the end of the trading day, leaving us to believe a rebound may be imminent if the market rebounds.

$25 would be an ideal entry point if the market gaps down tomorrow morning. Look for a 3 to 4 point rebound. Keep a tight stop loss- don't risk more than 1 or 2 points on this stock.













Nokia Corporation (NYSE: NOK)

Almost everyone agrees that Nokia is the class act of the wireless hand set manufacturers. The stock has gone straight down from the first of the year, but has finally leveled off over the last five trading days in a very poor market.






On this stock the MACD indicator appears to be headed into the green, suggesting the stock is about to rebound. As with JDSU, the Stochastics are close to 0, another bullish indicator.

The ideal entry point for NOK would be between $21 and $22. Look for the stock to trade into the $25 range. This stock will not be as volatile as JDSU, but a 1 to 2 point stop loss should also be used.

Both of these short term trading ideas are predicated on our belief that the NASDAQ is due for a rebound. A gap down in the morning should create low risk entry points for both of these stocks, but a rally must ensue for these ideas to make you money. If the NASDAQ keeps dropping get out. Use a stop loss and stay disciplined.




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Disclaimer
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To: the Chief who wrote (48113)3/1/2001 7:52:58 AM
From: kidl  Respond to of 62348
 
OT - A blast from the past.
Those were the good old times <g>

POSTED AT 12:23 AM EST Thursday, March 01

TD Waterhouse fined by NYSE for trading woes


By GUY DIXON
From Thursday's Globe and Mail

Toronto — In a rare ruling, the New York Stock Exchange has fined on-line broker TD Waterhouse Group Inc. $225,000 (U.S.) for failing to process thousands of trades and respond adequately to customer complaints over an 18-month period.

At the same time, the ruling penalized TD Waterhouse for aggressively taking on new clients during that period, when it was experiencing severe trading congestion and system breakdowns.

Specifically, the NYSE found that the on-line brokerage didn't do enough to redirect customers when its Internet-based webBroker service crashed, thereby losing countless trades between November, 1998, and April, 2000.

TD Waterhouse consented to the U.S. exchange's ruling — which was made on Jan. 10 and was first reported publicly yesterday — without admitting or denying any guilt.

A spokeswoman for the Toronto Stock Exchange said that no similar ruling has occurred in Toronto, and that exchanges typically get involved only when they believe the problem prevented the market from functioning properly.

TD Waterhouse's woes were not unique.

TD Waterhouse had many of the same recurring system crashes that plagued other on-line brokerages throughout the tech-stock craze between 1998 and 2000.

"It's a safe statement that all of the discount brokerages had problems dealing with the influx of customers. It wasn't limited to one firm or the other," said Douglas Hart, president of consulting firm Hart & Associates in Toronto, who has studied the on-line brokerage industry.

However, the NYSE said it singled out TD Waterhouse for not providing adequate service to those customers in trouble, and for not fully reporting the problems to the exchange.

For instance, from October to December, 1998, TD Waterhouse reported 400 complaints, though it didn't say that it received 2,300 through e-mail. It also didn't report the 18,000 verbal complaints it received from September to December that year.

TD Waterhouse said that the NYSE reporting criteria had changed, and that the brokerage now complies with those new standards.

"The review period was one of explosive growth that was very challenging for us and for our industry," said TD Waterhouse spokeswoman Melissa Gitter, "and we regret that customers may have been inconvenienced by the issues identified by the exchange."

She argued that "these issues are definitely behind us. The software issues have long since been corrected, and we have made changes to our reporting system with the exchange."

The brokerage's Web operations for U.S. customers, which are separate from its Canadian on-line operations, crashed for periods of between two minutes and one hour and 51 minutes on 33 different trading days during the 18-month period, the New York exchange said.

It penalized the brokerage for not properly directing clients to alternative methods for placing trades, such as TD's TradeDirect touch-tone telephone service.

Yet it also said that TD Waterhouse didn't maintain adequate capacity in its phone-based trading service to handle the extra load once disgruntled on-line customers began phoning in their orders.

When the bottlenecks were at their worst, customers using the phone service had to wait up to 60 minutes.

During heavy trading in January, 1999, 45 per cent of callers simply hung up.

Many customers who complained weren't called back by the brokerage, despite leaving their names and phone numbers.

Many of those who were contacted were instructed to defer their problems to their local TD Waterhouse branches or the brokerage's customer service department.

Given the downturn in trading activity with the slumping stock market, neither TD Waterhouse nor any other firm is expected to see this type of trading disruption again soon.

"This year is a lot different than last in terms of trading volume," Hart & Associates' Mr. Hart said.