Internet Initiative Japan Takes Wild Ride

Updated from 7:07 a.m. EDT

Speculative trading may afflict all stock markets, but credit Japan's momentum traders with bringing a certain panache to the party.

When U.S. stocks run amok, they tend to be driven by some vague marketing lingo about revolutionizing the world through turn-key solutions, or search-enabled advertising or 24/7 e-commerce platforms.

But during the great Japanese stock bubble, stocks soared on colorful rumors of cures for AIDS or environmental breakthroughs that would end the scourge of pollution. On the Tokyo Stock Exchange, you could dream big dreams and -- if you sold at just the right time -- make an even bigger profit. ...