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Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (2289)	4/16/2001 7:57:38 AM
From: John Pitera	Respond to of 2850

Big Bill, looking more favorably at the market I see. Boy Richard Russell had a pretty negative article in this weekend's Barron's........ He figures we're in phase II of the Bear Market ........with Phase III despair to come later. Hope you had a nice Holiday weekend. John PS interesting note by Cramer: Death to the Decimals! By James J. Cramer 4/12/01 10:39 AM ET Three days of pure hell. That's how the market-makers are describing Nasdaq's change to decimalization this week. Although I haven't read a word about it anywhere, my buddies on the OTC desks are screaming bloody murder because this change has eliminated liquidity for many stocks. We are trading in a totally herky-jerky way because of this change. Listen to what one major market-maker told me about how things are working out since decimalization took place: It is virtually impossible to see what the real market is, where size is -- and it has certainly killed liquidity as we know it. Maybe things will settle in but it is pretty tough to move lots of stock without jamming it up or down a bunch. I don't see how this is better, it will probably drive trading costs HIGHER! This market-maker would love to roll things back to the way they were, but I don't think it is going to happen. So far, not such a good change.