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Microcap & Penny Stocks : DGIV-A-HOLICS...FAMILY CHIT CHAT ONLY!! -- Ignore unavailable to you. Want to Upgrade?

To: MRS.T who wrote (32155)	12/3/1998 6:05:00 AM
From: Ronaldo	Read Replies (1) \| Respond to of 50264

How 'Day Traders,' Computers Created a Web Stock Frenzy By REBECCA BUCKMAN Staff Reporter of THE WALL STREET JOURNAL December 3, 1998 The Friday after Thanksgiving is traditionally a lazy day for most of Wall Street. But this year, it was a day of frenzied market action for Internet-company stocks. In that single day's trading, shares of Web auctioneer Onsale Inc. shot up nearly 63%. Books-A-Million Inc., a little-known Alabama company that last week unveiled a jazzed-up Internet bookselling site, saw its shares more than triple. And stock of tiny Connect Inc., which makes systems that help Web sites offer online shopping, more than quadrupled, from $1.375 to $6.125. The source of the market jolt wasn't big institutional investors, most of whom generally take the day off. Instead, increasing evidence suggests the stocks were bid up that day, as they have been throughout much of the past month, by hyperactive individual investors trading online themselves. This breed of amateur -- and semiprofessional -- investors, also known as "day traders," quickly move in and out of stocks, rarely holding positions for more than a few days. It's probably no coincidence that the stocks most swept up by this kind of online trading -- based on momentum, tiny nuggets of news, or rumors on Internet message boards -- are Internet stocks themselves. -------------------------------------------------------------------------------- Private Electronic Trading Systems Face New Controls, Competition in SEC System Barron's Online: Today's 'Net Winners May All Be Losers -------------------------------------------------------------------------------- The full text of this article is available for subscribers to The Wall Street Journal Interactive Edition. If you are not a subscriber, please click here to subscribe. Copyright © 1998 Dow Jones & Company, Inc. All Rights Reserved.