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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: Taki who wrote (235)	7/30/2000 3:22:07 AM
From: Taki	Read Replies (1) of 1426

Here was the day that happened. November 16th 1999 stock MVEE one billion shares out. We are talking then many trades were blocks of 100k to 3 million shares. I give an order through a broker at the Ameritrade to sell 50,000 at .0049= If i sold it i would get 245-23$ commision=222. Guess what are you ready to hear this? This MM took the trade and sold me listen to this 29 shares man x .0049=.1421-23$ commision = -22.8579. Then the price was going down. I was furious.I called three different brokers and they were telling me yes i did sell 29 shares at this price Sir.I admit i cursed the poor guys, and it was not their fault. I told them to immediately call the MM and fill me at the list 5k.So finally i got 5k after all that damn arguement. Then i asked them not to charge me the trade because i will get out 1.50$ on this trade on 5k shares.That is your problem Sir they reply. So i got 1.50$. Then the price started going up and i gave another order to sell 50k, and this time fills only 5k again x .0054=27$-23 commision=3.00$. I just said to myself.Well my friend he is giving it to you today.So before you brake the damn computers turn them off and go for a walk to calm down, before you lose your ass trading on your emotions today. This day i will never forget. I was chased like a wild dog on my trades, when a company had 1 billion shares out, and see trades going buy many of them sizes of 200k and up, TAKI was getting filled 29 shares and 5k shares trades. What a joke that day was. But i do not forget, never forget. I after that open three different accounts, so this guy will not be able to manipulate me again.That was only day so bad like that. I had arguements for years until i got sick of the bull shit, and went other brokers also. Lies all the time.The broker was telling me that he just called the MM and the bid was never there the MM told him.My answer to him was: Sir tell the Jerk that he lies i have the damn log and do you want me to fax it to you that it was even above my price?Okay Sir he tellsme let me call him again.Five minutes later i see the trade going by, the trader calls me yes Sir you got filled.It was a mistake he said. Lies like this on a weekly basis sometimes. I can imagine the rip off, that went on when many investors in the old days did not have level II, and logs to see where the price was trading.Man these guys MMs then where making a killing.And i mean a killing.

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