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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (6918)	10/8/1998 4:16:00 PM
From: Serge Collins	Read Replies (2) \| Respond to of 18016

Looking at the action this afternoon it is obvious that the market is being whipsawed by program trading. That is the only way to explain this incredible volatility we have had the last few weeks. The NYSE is going to have to curtail this sort of activity or investors will lose faith in the market. Program trading of this sort is nothing more than a form of manipulation. If you notice, every time the market hits certain targets it either falls or bounces. This is confined to the big blue chip stocks but it has a very negative effect on smaller companies. Those stocks do not benefit from the buy programs kicking in and never fully recover. Let's remember 1987 where this sort of activity led to battle fatigue and investors throwing in the towel.