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To: Byron Xiao who wrote (17895)	5/20/1999 7:16:00 PM
From: Jerry Miller	Respond to of 41369

i agree with you entirely. extended hours would likely ease some of the pent up demand we see at the open each day. maybe smooth things out a little. calm down the swings. especially in our sector. it will be a welcomed move.

To: Byron Xiao who wrote (17895)	5/20/1999 7:52:00 PM
From: JB2	Read Replies (1) \| Respond to of 41369

How can we forget AOL, this IS the AOL thread---see the thread: "After hours trading (ECN)-the coming 24/7 explosion." I don't think east coasters are going to like it... and they pretty much make the rules (NYC). On the west coast we're already used to getting up before daylight to trade. If it happens, coffee sales may shoot up (watch SBUX) >g<

To: Byron Xiao who wrote (17895)	5/20/1999 11:13:00 PM
From: Joe S Pack	Read Replies (1) \| Respond to of 41369

Byron: Here are my comments (speculations): 1) From TA point of view most systems that rely on day's closing value(s) will be thrown out of window. For e.g., the concept of three day closing price as a confirming signal will have to be changed. 2) These sell triggers (program triggered sell/buy) may have larger effect unless they put a cutoff. 3) Lot of after hours stuff will become useless. One way it is good for individual investors as there won't big boys doing these after hours stuff. 4) There will be lot of halting due to news pending. But this may be addressed by SEC. Also we have to see how quarterly report can be released. Current mode of after close will become outdated and SEC may impose some restrictions on things like taking it to weekend or something like that. Frequent halt-and-resume cycles may create more chaos on individual issues as there is no pause during regular trading days. Again one may try to postpone to weekends. 4) This will create lot of commission for on-line trading houses (eventually all houses will provide online trading as they cannot resist technology and compete with them). 5) There may be more professional traders (currently known as day traders). Or may there will be day traders, night traders, evening traders, morning traders as so on. 6) There will be more investors from other countries to participate. 7) Last but not least: there will be lot of zombies and cracked cases in US. -Nat

To: Byron Xiao who wrote (17895)	5/21/1999 1:07:00 AM
From: Tunica Albuginea	Respond to of 41369

Byron Xiao:" what will extended hours do" : A new? perspective: It is possible that stocks that this will bring stock prices more inline with their true intrinsic value/amenable to speculation and " pump & dump " by Institutions and MMs. In other words, it will become harder to squeeze the little guy. It will be harder for Institutions to pump up a stock with recommendations and then show up the next day and short it. the little guy will do that before them and they will be left holding the stock. Overall I think it will give the little guy a better hand up. Because of this , it is possible that in the coming weeks a lot of Institutions will start unloading inflated stock before the little guy gets in and they are left holding the bag. For example if throngs of day traders start upping or shorting a stock after hours, the MMs and Institutions will be left holding the bag. They will try to avoid that. Some of the first stocks to go may be inflated Internet stocks. I think we may see another big correction of small Internet stocks especially as people begin to realize that they are all doing the same thing and thus are becoming a commodity, TA