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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: NASDBULL who wrote (26857)	12/11/1998 10:24:00 PM
From: TokyoMex	Read Replies (1) \| Respond to of 119973

R O F L M A O .. FileNet Up 12%;Analyst Cites Web Stk-Picker's Comments Dow Jones Newswires -- December 11, 1998 By Scott Eden NEW YORK (Dow Jones)--FileNet Corp. (FILE) shares climbed as much as 17% Friday, their second double-digit rise in as many days, after Internet stock-picker Joe Park, who runs a Web site and posts messages on investment chat boards under the moniker TokyoMex, touted the company over the Web, Standard & Poor's Equity Group analyst Scott Kessler said. A message on the Internet stock chat site Silicon Investor, posted by Park at around 11:45 a.m. Friday, appeared to peg a price target on FileNet stock. The message cryptically reads: "Stay on top of FILE, my expectations on this is now to mid teens." As reported in The Wall Street Journal in November, Park commands a large following of fellow cyber-traders who buy into stocks en masse on his recommendation. After driving share prices higher, these traders unload their positions for quick profits. According to Kessler, Park's disciples form a big enough group to lift stock prices merely by heeding his suggestions, an aggressive momentum strategy critics call less euphemistically a classic "pump-and-dump" tactic. The strategy has recently come under scrutiny by the Securities and Exchange Commission. Past companies whose stocks have been affected by Park and his legions include Rentech Inc. (RNTK) and Iomega Corp. (IOM). FileNet shares recently traded at 10 3/8 - down from an intraday high of 11 1/4, but still up 3/4, or 7.8% - on Nasdaq volume of 3.5 million, compared with a daily average of 1.2 million. Given the stock's heavy volume, beginning Thursday when 1.5 million shares changed hands, Kessler said he believes Park posted a buy recommendation on his proprietary Web site, Tokyo Joe's Societe Anonyme, sometime Thursday. Only members of the site see those notes, paying about $500 a year for the advice. FileNet shares rose 7/8, or 10%, to 9 5/8 Thursday. Company spokeswoman Lynda Orban said no news from the company could explain the two days of upward movement. She noted only that the company issued three announcements Monday dealing with a new board member, the testing of one of its software products and its deployment with several public agencies. The spokeswoman said she wasn't aware of Park's Internet activity