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Strategies & Market Trends : DAYTRADING Fundamentals

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To: LPS5 who wrote (9319)	7/1/2000 11:31:29 AM
From: Jon Tara	of 18137

April 1, 2001 - NASDAQ adopts the GreenTick rule: "The NASD has adopted the Long-Purchase Rule to prevent speculative long purchasing in NNM securities from accelerating a rise in the price of a security and to stop a form of manipulation known as “bull raiding” or “piling in.” Bull raiding or piling in occurs when buyers exert pressure on a stock’s price, forcing the price to rise exuberantly, frequently within a single trading day. The Long-Sale Rule prohibits member firms from executing customer long purchases and non-Market Maker proprietary long purchases in an NNM security at or above the current inside ask when the current inside ask is higher than the previous inside ask." (Now, just roll this around a few times, imagining Greenspan saying it. How shocking it sounds coming from his mouth: "Bull RAIDing <pregnent-pause> or piling IN <pregnent-pause> <flat> occurs-when-buyers </flat> <sing-songy>exERT PRESure </sing-songy> <flat> on-a-stock's </flat> priiice, <pregnent pause> FORCEing <flat> the-price to rise </flat> exZOOBerently, <double-pregnent-pause> <punch-line>FREquently withIN a SIN-GLE TRA-DING DAY! </punch-line>"

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