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Technology Stocks : USAT Long Distance Telecommunications -- Ignore unavailable to you. Want to Upgrade?

To: TE who wrote (200)	1/30/1999 10:33:00 AM
From: StockDung	Respond to of 397

Famous last words When York and Greene shop for Internet stocks, they look for companies that offer a product or service that isn't available anywhere else. "We don't think there's a lot of space for a lot of players" on the Internet, York says. One example of a company that meets their criteria is USA Talks, the fund's largest holding. The company, which offers long-distance telephone service over the Internet, has seen its stock soar more than 800% since last August. But it has yet to report a profit, and its stock trades on the OTC Bulletin Board, an exchange for small companies that don't meet the Nasdaq market's listing standards. USA Talks "isn't something we typically would invest in," York says. "But the technology is here, it works, and what they're doing is something that's probably going to generate a lot of business."

To: TE who wrote (200)	1/31/1999 2:41:00 PM
From: STK1	Read Replies (1) \| Respond to of 397

And they don't suspend you for a year unless you made a bad mistake. Amr I. Elgindy (Registered Principal, Colleyville, Texas) submitted an Offer of Settlement pursuant to which he was fined $30,000, suspended from association with any NASD member in any principal capacity for one year, suspended from association with any NASD member in any capacity for 30 days, and required to produce a copy of his member firm's implemented written supervisory procedures specifically with respect to overseeing his activities to deter and detect a recurrence of the conduct alleged in the complaint. Without admitting or denying the allegations, Elgindy consented to the described sanctions and to the entry of findings that he caused his member firm to execute 108 orders through SOES for the firm's account. The findings also stated that Elgindy caused his member firm to enter non-bona fide orders through the SelectNetSM System for the firm's account that were either timed out or canceled by Elgindy before they could be executed. Furthermore, the NASD found that Elgindy caused trades reported to ACT to be canceled by failing to acknowledge or confirm such trades. The NASD also determined that Elgindy failed to ensure that his member firm establish, maintain, and enforce supervisory procedures that would have enabled the firm to deter and detect the above conduct.