DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Dave O. who wrote (3321)	8/28/1999 1:23:00 AM
From: Steven Ivanyi	Read Replies (1) of 18137

< Several veteran Wall Street traders said that one sign of illegal shorting occurs when the daily trading volume in a stock far exceeds the number of shares available to the public, known as the float > These veterans don't know what their talking about.I guses the trading volume of a stockcan be higher than the float. I'll give you an example. I shorted, covered, went long, sold, shorted etc 2000 shares at a time of ATHM yesterday in 42 trades. That means I created volume of 84,000 all by myself. Today I traded it about 29 times. So if you throw in other daytraders, market makers and specialists a hugh volume of trades can be done by relative few people per se. Just think about the Nasdaq market makers, who incidently don't need an uptick to short, flogging stock back and forth all day long in huge volumes to make a 1/16th or and 1/8th. The article in my mind tries to pin something on daytraders for malicious and unfounded reasons. Steven Steven

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