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To: james h. snyder who wrote (107539)	3/5/1999 11:57:00 AM
From: Frank E W	Respond to of 176387

Nasdaq computers were down for about 1 1/2 hrs Frank

To: james h. snyder who wrote (107539)	3/5/1999 11:58:00 AM
From: Mohan Marette	Read Replies (3) \| Respond to of 176387

Yup how about this? Technical glitches. Friday March 5, 11:19 am Eastern Time Nasdaq trading ability delayed, quotes unaffected NEW YORK, March 5 (Reuters) - The Nasdaq stock market said Friday that trading on portions of its electronic trading system were delayed due to a problem at the exchange, but the situation has since been rectified. A spokesman for Nasdaq said that market makers were able to quote prices during the glitch, but could not actually trade on two Nasdaq platforms, SelectNet and SOES. At roughly 1050 EST/1550 GMT, trading volume on the Nasdaq stood at roughly 177 million shares, which the spokesman characterized as unusually low. ''At approximately 0940 EST/1440 GMT the ''SOES (short order execution system), SelectNet and the ITS (intermarket trading system) were suspended due to a failure of one of four of our message switches. We rebooted our tandem computer complex, and are in the process of clearing it for new order traffic," said Nasdaq spokesman Scott Peterson. ''But I want to emphasize that SOES and SelectNet trading represents only 20 percent of executions,'' he added. Peterson said the ITS system was still down according to his latest update, but that the Nasdaq market ''was still up on the quotation side, trading has been continuing through normal telephone trading and most ECN's (electronic communications networks). We expect to have it fixed shortly.''

To: james h. snyder who wrote (107539)	3/5/1999 11:59:00 AM
From: TigerPaw	Respond to of 176387

the low vol. on the split day? Computer problems at NASD. Even those problems can play into people's fears. This was not the usual correction where everything drops at once and people scream the sky is falling. Instead various stocks dropped one at a time, or in two's and threes. It gets harder to put a handle on. I know that I had plans to make some big buys on a drop, but was shaken enough to make buys in 50 share increments since I wasn't sure if I was averaging up, or averaging down. I don't see any bad news on the horizon so I expect the rally to begin for the masses on Monday. TP (IMHO)