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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (7680)	3/6/1999 9:59:00 PM
From: Les H	Respond to of 99985

LOL. Meanwhile, junior is getting caught up coding his stock rumor web site. Stock-Rumor Site Promises Far More Than It Delivers By CARRIE LEE THE WALL STREET JOURNAL INTERACTIVE EDITION Rumors often move stock prices as much as real news, so it isn't surprising that StreetQ, a new Web site that says it delivers the latest gossip, is starting to attract attention in online message boards. The site (www.streetq.com) says it collects "rumors you can use ... from professional trading sources." What's more, it asks its readers to contribute gossip they've heard, and says it plans to pay out $100 for the best rumor each week. It claims to have reported several rumors that later came true -- including Ford Motor's recent deal to buy Volvo's automobile operations and International Business Machines' stock split in late January. Postings about StreetQ have appeared on several popular message-board sites. What investors aren't told on the site is that StreetQ is run by Jonathan Wu, a 18-year-old freshman at Stanford University. Mr. Wu acknowledges that he doesn't have any way to verify the accuracy of the rumors he reports on the site. What's more, he admits he isn't sure if his sources -- which he won't name -- actually have ties to Wall Street. Mr. Wu says he relies on a flow of often unsolicited electronic-mail messages to collect his rumors. He doesn't attempt to confirm that message senders claiming to be professional traders or company insiders are who they say they are. "A lot of times I don't know their backgrounds. I might ask where they work. That's as far as it goes," he says. Still, he claims that about one-eighth of the rumors he has posted so far have proven to be true. As for the $100 rewards, Mr. Wu says he hasn't paid out any cash yet because he is waiting to get the money from his parents. His mother, Jennifer, who lives in Mountain View, Calif., says she wasn't aware of his payment promise, but she says she trusts her son's judgment. "I support whatever he wants to do. If I can help, I help," she says. She's not sure that he'll deliver on the money, though. ...