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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (28322)	4/9/1999 8:57:00 AM
From: ayn rand	Respond to of 122087

Chicago Tribune, Thursday, April 8, 1999 Bill Barnhart Market Report On-line hoax: Investor chat rooms on the Internet went wild for several hours Wednesday morning when a fake news item appeared on a message board associated with the stock of Pair-Gain Technologies. The message said the California based maker of telecommunications products had agreed to be acquired by an Israeli company at $15 a share, 76% higher than Tuesdays closing price. The Web posting that alerted investors to the acquisition provided a link to an alleged news story on the Web site of Bloomberg News, a financial wire service. The page presenting the news release was a near duplication of an authentic Bloomberg News Web page. Shares of Pair Gain quickly jumped to $11.12 before investors sensed a fake. "It was an impressive looking press release [but] I realized early on that this was not a real story," said Anthony Elgindy, who operates Pacific Equity Investigations in Encinitas, Calif. Elgindy, a short-seller, said he posted a warning on his chat site, part of the Silicon Investor site on Yahoo, when he could not obtain confirmation from Pair Gain officials and realized that the Nasdaq stock market had not halted trading in the stock. Typically, trading in a thinly held stock will be halted to allow for dissemination of a major news item. Later, PairGain denied the story. Elgindy noted that the alleged buyer of PairGain was a company in Israel, where it was nighttime during Passover and confirmation would be difficult to obtain. Nonetheless, "it looked very credible on the surface. The greatest cons in the world are full of detail," he said. This is a classic case of a great Internet scam," said Fane Lozman, chairman of Chicago based ScanShift, a market monitoring service. Elgindy said regulators should be able to track who posted the false press release. "There are footprints," he said. He noted that trading in PairGain stock has been unusually heavy in the last few days. With an average daily volume of less that 1 million shares, the stock traded 2.1 million shares Tuesday and 13.7 million shares Wednesday. Despite the apparent hoax, PairGain stock closed up 87 cents, at $9.37. Several investors posting messages in Elgindy's chat room said they were sure a takeover deal was in the works.

To: Mama Bear who wrote (28322)	4/9/1999 9:05:00 AM
From: HRAKA	Read Replies (1) \| Respond to of 122087

JBOH, MHMY , CNKT, all look to be gapping up this morning. CNKT rather large right now. Hraka

To: Mama Bear who wrote (28322)	4/9/1999 9:18:00 AM
From: If only I'd held	Read Replies (1) \| Respond to of 122087

DLIA, to the thread. While eating dinner last night, I was watching CNBC promote the Iturf IPO. Someone from the Internet Fund was also talking it up. For what it is worth. I haven't seen anything posted about it, so I assume many did not see it. I must say that if ITURF does anything like what IVIL has done, DLIA is going a whole lot higher. Some of you gawked at me for estimating $55, but I think it could actually go even higher if the IPO is a success. I will likely be going long this morning myself, at least with my hand firmly planted on my mouse. I do beleive ITURF is junk, and I also beleive that the underwriters are having a feild day by dumping all this garbage on the market. However, I don't fight the tape anymore. I have not seen an IPO yet that I would invest in, but somebody is buying them. Why on Earth does IVIL have a $2b market cap?? It's all junk, so I am buying. :o)These are just my opinions. I walk around with blinders on. By the way, I never saw a cover call on FNHC from Anthony. What is up with that?? Are you still short FNHC Anthony?? Just wondering.