May 21, 2000

Many stock market professionals regard increased market volatility as ominous reflection of rise in day trading and fragmentation of securities markets, but University of California (Berkeley) prof Greg Duffee suggests it simply reflects efficient market's reaction to increase in information available to investors every day; Duffee sees no statistical evidence to support day-trading theory; points out that surge in trading volume in 1975, when brokers were first forced to compete on commissions, was not accompanied by rise in volatility; graph (M)

Plan by Corcoran Group to install awnings over second and third floor windows of its offices in landmark Haughwout Building in SoHo is encountering neighborhood resistance; photos (Postings column) (M)

Celebrity parties that oil wheels of art sales by major galleries described; photos of Phillips, Christie's and Sotheby's galas (M)

Hours after Taiwan's new president made his inaugural address, officials in Beijing issued a surprisingly temperate response. Page 16.

Article on nostalgic mythology of Queens, NYC, that former residents are creating through Web sites, recent book and soon-to-be-published essay; some say Queens is blandest New York City borough but former residents of Queens are working hard to make reconnections; photos; drawings; lists (L)