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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: BarbaraT who wrote (1485)	1/30/1999 3:10:00 PM
From: Kimberly Lee	Respond to of 52051

Nasdaq halted CGCOC at 16:28:43 on 1/29/99. The earlier press release from Nasdaq contained a small error in the date but has subsequently corrected it. nasdaqtrader.com A code T1/T12 halt is nearly always bad news for the longs -- AVCO, CAML were just two examples. Before the halt AVCO was trading at 33 on INCA, but it opened at 3 when it was allowed to reopened after issuing a press release to fess up, although it did manage to stay in the 11-13 area for a few days, still a -66% from where it was halted. As well, the fifth digit "C" of a Nasdaq equity indicates that Nasdaq has been trying to delist the stock in question for quite some time but decides to grant a short continuance. nasdaqtrader.com C Issuer qualifications exception - Issuer granted a continuance in Nasdaq® under an exception to the qualification standards for a limited period. The CGCOC press release yesterday has "SCAM fluffy PR" signs written all over it, of course Nasdaq didn't waste any time to halt it. If the company doesn't fess up, the next step would be SEC halt, code H11, probably followed by investigation/prosecution from the US Attorney's Office for the Northern District of Wisconsin, assisted by the SEC. No need to jump on Joe -- he's only a well-meaning messenger.

To: BarbaraT who wrote (1485)	1/30/1999 3:20:00 PM
From: Kimberly Lee	Respond to of 52051

As well, if you look at the Nasdaq Halt List, you can find 3 more companies halted by the T1/T12 code: VSEIF on 1/19/99, USNC and ABTI on 1/22/99. To this date, Nasdaq has yet allowed any of them to resume trading. nasdaqtrader.com

To: BarbaraT who wrote (1485)	1/30/1999 4:00:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 52051

This is the subsequent press release correcting the earlier reported erroneous halt date. biz.yahoo.com