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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: TraderRick who wrote (2686)	3/11/1998 4:12:00 PM
From: Nimbus	Read Replies (2) \| Respond to of 4969

CLCX ... hammered .... time to buy ? The lawsuit news that slapped the stock seems over reactive. Traded today to $18 ! What is the experience with playing bounces on things like this ? Is there any way to judge further downside, if any?

To: TraderRick who wrote (2686)	3/11/1998 9:03:00 PM
From: steve goldman	Respond to of 4969

Rick, An excellent example of when I think names could prudently be used on this thread: 1. Stocks are typically halted when floor or exchange or nasdaq officials feel there is an unfair market, news is unfairly disseminating and the market becomes disorderly. 2. Reasons include news pending, disorderly market on rumors, disorderly market for imbalances (ie. specialist can not reasonably match buys to sellers and market spirals out of order), legal action, delistings, etc. 3. The NASDAq is much more tolerant of violent swings. Cant remember the last time I saw a NYSE stock swing 5, 6 points from its open (not the close because gaps happen all the time) without being held and remade. the last time I saw something like that was when I bot a couple thousand centennial tech at 2, ran to 4 next day, next day from 4 to 13....just about got them all off at 12ish when they halted it with 20 minutes left in the day. Never reopened, opened next day at 2....made good cash but got stuck with last two which I committed to kicking out before the close...afterall 4 to 13 is a bit much for nyse. MM's love that volatility...Free for all on market orders....Regards,steve