WELCOME EVERYONE...
I sure hope that I can live up to all of your expectations. Yes, I am a NASDAQ market maker and I make markets in mostly high-flying tech stocks, and a few small-caps. I run a small trading operation in New York City and I have been in the market making business for about 7 years now.
My experience is vast and I have worked at the entire gamut of firms. I know how and what motivates the big firms and I know how the small firms survive.
I also like to consider myself a trader first and a market maker second. I have read about 70 books on trading, mainly regarding day trading, as I personally feel that MM's who do not learn to trade as the day traders do will not survive in the ever-changing NASDAQ market. That being said, I am 100% for day trading and I believe that they keep MM's honest. I say, the more competition over order flow the better. Too much power in any area will breed corruption IMHO. That being said, if you are one of the brain-washed 'conspiracy theorists' then you had definitely back up your accusations with some proof. You should all know that one of my original motivations for posting on Raging Bull was to try to eliminate the ignorance I saw by many newbie investors. As a trader, it if FIRST and FOREMOST your own responsibility to be accountable for YOUR OWN actions. I have, and will continue to be very critical of other viewpoints if they are simply masked 'finger-pointing' and not legitimate complaints that they want to voice.
I apologize in advance if I sound obnoxious or harsh in any way. I simply want readers to understand how I feel about these subjects. Now, you can feel free to ask me about ANYTHING you want and I will answer you with as much candor and honesty that I can. However, because of the ridiculous amount of frivolous lawsuits and gold-digging lawyers I see suing posters all over the internet I will refrain from making any personal recommendations in stocks that I, or my firm, makes markets in. However, if you are asking MY opinion about something than I will try to answer (about how I feel about a stock, etc.).
I am looking forward to an intelligent discussion about anything and everything regarding market making, the NASDAQ markets and trading strategies.
I wish all of you enjoyment in reading this thread (please suggest a better title and category...I am new to SI). I hope I can live up to DizzyG and Janice's recommendations. They are some of my favorite poster on RB and I look forward to writing with them here.
Wishing all of you profitable trading and the best of everything in life,
-- Gene |
