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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: gene_the_mm who wrote (204)7/29/2000 11:29:39 PM
From: Taki  Read Replies (1) of 1426
 
Good job you are doing here Gene explaining questions that we might have.
My opinion on your post below.
I do believe in my opinion that the MMs helped more on the decline.The smart ones took advantage from the begining of the decline, and used it as a tool to short more, in anticipation of the daily
massive margin calls that would make the investors
panic and sell at any price to save themselves
from the desaster.The investors that had money to
cover the margin calls, and more money to invest even saw it as a best buying opportunity, and bought more and made a killing.
But the ones that fell in margin calls and did not
have money to cover, were dead meet.
When the brokerage homes were loaded with margin
and had to send letters out to their clients to
have them send money in to cover the margin calls, it was like a huge alarm to a smart
MM to even short more the next day, and give more temporary decline, so the investors panicked
even more, and sold, and caused more declined,
and there are the smart MMs loading up their boats and covering at prices that were great.
I believe they made a killing on that panic.
That is my opinion.I wish i could explain myself
better, but i have hard time with the language.
So some part that does not make sense, i apologize.
<<MM's actually caused the decline in March-April. If any of you reading this thread
believe this to be true please
feel free to comment and explain why.>>
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