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Technology Stocks : Avtel Communication (AVCO) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis G. who wrote (70)	11/12/1998 8:36:00 PM
From: RockyBalboa	Respond to of 461

My response (and no lecture, either): When I started trading on the U.S. exchanges, I considered it as an advantage that the percentage moves of stocks are not regulated. If a stock is to be bragged or carried away, the market should decide how far. It would even be better if trading round the clock was made possible, preventing the gaps. In most European exchanges, trading is frequently halted or stalled at a certain level. The levels range from 15% to 30% depending on the national laws. On the Reuters you would have found trading halt due to price movement several times in the last months all over continental Europe. In Europe we lead opposite discussions therefore. A daily fluctuation limit usually does not prevent investors from being impoverished. If a stock drops to the trading halt level it is not traded for the rest of the day and can open far away on the next day, without turnover and so on. I have seen a stock inching up 15% for 7 consecutive days without turnover but then were little turnover and then it dropped like a rock again without turnover. Many pointed out that there are stocks with growth and small leading P/E left on the table. Even steel factories are dirt cheap but, they are not in fashion right now... What could be done is to implement auction phases like AMEX or NYSE on order imbalances, which can cool market momentum as well while not hampering continuous trading. C.

To: Dennis G. who wrote (70)	11/12/1998 8:54:00 PM
From: Wowzer	Read Replies (3) \| Respond to of 461

Not meant to flame, but I respectively disagree. The last thing the stock market needs is more regulations or oversight on situations like this. Management did nothing wrong here, just a bunch of greedy fools tripping over them selves to see who will be left holding the bag. Let this stock run to the moon if people are willing to pay it let em. No one is holding a gun to their head making them buy or sell. I was sitting at my computer when Joe Kernan came on and mentioned the stock it was trading at 12 went to 14 while he was talking and the rest is history. I didn't buy just watched in amazement. Anybody who has internet access and even the most basic access to market information should have already known about AVCO way before Joe got on. It already was the highest gainer on the NASDAQ. I looked at it at $5 this morning and decided to pass. People must have been sitting by the TV saw Joe mention the stock and immediatly called their broker and told them to buy at market (no way you would have got filled with a limit order unless it was at 30) All this with out knowing a lick about the company, these people deserve to lose their money IMO. The sooner the better. If they didn't know what they were getting into then they should of stayed away. We don't need the government protecting us from ourselves. A few big losses will teach them soon enough anyway. Don't get me wrong I do feel sorry for people who get burned by the likes of CD and CIEN on accounting frauds busted deals etc, which the SEC should look into. However, that is the nature of the market and why you diversify. OK off my soap box, Rory