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To: Gerald Walls who wrote (2406)	12/9/1998 5:03:00 PM
From: MrLuckyman	Respond to of 2843

responding to message from Gerald Walls on Dec 9 1998 4:14PM EST Sorry about those caps, i am not the original author of the body of the message, which was in caps. I di not wish to retype it :-) You might see "massive shorting" in a different light if you read some of Richard Ney's book: "The Wall Street Gang" This kind of shorting can only be done by NYSE Specialist's, MMs, and by traders who are partners in their firms.(insiders) "With $8,000, you can buy $10,000 worth of stock, but with $8,000 in stock, any Stock Exchange member can buy $160,000 worth of stock for his own segregated investment account" (1Ney, 112). This leverage works for selling short as well!!! Ney's 2 other books offer positive proof as to how powerful a tool this is in influencing price movement, hence the regulation that does not allow the public to see specialist short figures until 30 days after the fact! This link is just a sound bite from one of his admirers, but all three of his books are extremely well documented and should enlighten anyone as to the true nature of these so called "auction markets". w3.trib.com eom

To: Gerald Walls who wrote (2406)	12/10/1998 1:19:00 AM
From: MrLuckyman	Read Replies (2) \| Respond to of 2843

Here is some information i came across relating the details of some Specialist and MM manipulations: LEAP FROG On Monday September 23, 1996 AT&T closed at 57.12. On Tuesday morning (24th) the Specialist opened the stock at 53. It then slid to 51.5 by the end of the day. This is Specialist manipulation in its rawest form. THE STOCK OPENED DOWN OVER FOUR POINTS. Think about that. What if you were the head of a mutual fund and your trading computer was going to sell AT&T at 54, or 55, or 56? What happened to the hapless fund managers, or to the millions of individual investors holding AT&T stock? I should think they all felt like they had been violated. On Thursday, January 23, 1997 Cascade Communications closed at 64.125. After the close, the results of Cascade's Fourth Quarter Earnings Report were released. On the morning of Friday, January 24, 1997 the specialist in Cascade opened trading at 45.25, down 18.875 points. Cascade closed at 41. But before one investor got to place a sell order, the specialist had taken 29% from him. The Earnings reported were good, and better than expected. But supposedly, they showed 'weakness' toward future earnings. What really happened was that Cascade fell victim to the first bear raid of this slide. It was wonderfully well organized. Nasdaq said that Cascade's volume of 43.7 million shares was the ninth - largest single - day volume in the history of the market. On Thursday, January 30, 1997 Radisys announced that its 4th Q net income was up some 475%. RSYS closed at 58. After the close rumors spread that in a wrongful termination suit, the plaintiff had accused RSYS of 'financial discreprenies'. The specialist in RSYS opened the stock down 10 points Friday, and it slid to 46 at the close. Good report followed by a Bear Raid; does it sound at all familiar? SUMMARY The SEC will not allow us little guys to do what the Specialists do without a second thought. That is the way it is. That is how the game is played. I just thought you should be aware of the abuses. I will try to post more in the future. eom