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Strategies & Market Trends : AMIGOS INVITATIONAL YEEHAW PORTFOLIO -- Ignore unavailable to you. Want to Upgrade?

To: Instock who wrote (266)	5/21/1999 12:54:00 AM
From: M.R. Davis	Read Replies (1) \| Respond to of 1316

Instock Good for DEMP but bad for me! Bought at 7 held for 3 weeks or so and sold at 8 3/8...... where is my patience these days!! As for ASTN - much more than chart action here.... After 5 years of developing alternative trading systems ASTN is going live with an alternative trading system on the PHILLY exchange starting July 1st. This system lets institutions sell or buy large blocks anonymously at the VWAP (Volume Weighted Average Price). Usually institutions get hit when they try to sell a large block with MMs front running and the whole market on that stock getting warped by everyone knowing a big name is selling. The CEO of ASTN was the former COO of Instinet - knows the business. He claims to have 50 institutions signed up and recently raised his estimate for daily volume by the end of the year from 20 million to 30 million shares a day (ASTN charges 0.015 each side of the trade on each share - for a total revenue of 0.03 per share - gives you $900,000 per day revenue for their system - obviously they'll be giving some enticing discounts off of that too). Still possible that ASTN could be generating $4 eps next year. Also spinning off Gomez Advisors (www.gomez.com) of whom they own 54%. And they have 4 other ATS (alternative trading systems) ready to roll soon..... Pie in the sky..... academic theory.... or a sweet money machine... well that's the discussion as ASTN has been burning through the money with no revenue yet.... and has had stock dilution issues (convertibles and warrants hanging around). Yet they didn't call the warrants which by my estimates they could have called several days ago..... 'cos they have a few more shares they can issue and they expect the revenue to start July 1st. Personally I think the shorts are going to be hung out to dry and ASTN will cruise through the teens and up to 20 well before July 1st. Have I whet your appetite??? <GGG> Mark