Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: EyeDrMike who wrote (81876)	2/6/2000 5:17:00 AM
From: lee kramer	Read Replies (3) of 120523

EyeDrMike: You got it right about the NYSE. There are 1366 members of this once Very Exclusive Club. Until the discount brokers came along the NYSE set monopolistic-like commission rates that retail customers HAD to pay. And they were high. But the 1366 could trade as often as they wanted every day (they were the original day-traders); and they paid no commissions. They could "scalp" for 1/4 point, 1/2 point as often as they chose. And they still can. If the NYSE wants to force "small" day-traders to maintain a $25,000 equity requirement (note: the large daytraders, those who can maintain equity above $25,000 are not affected by the proposed rule changes) wouldn't it be prudent for them to require the hedge-funds and well-heeled day traders to maintain commensurate equity? Apparently not. Clearly, the NYSE is targeting the small traders. Guess the small guys are responsible for all this market volatility. And the NYSE, by proposing this rule change must just be looking out for the small-guys. Sure. (Lee)

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