Meet Gene, a NASDAQ Market Maker Message Board

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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: Taki who wrote (235)	7/30/2000 11:33:31 AM
From: gene_the_mm	of 1426

REGARDING OTC BB... Folks, I do NOT make markets in OTC BB stocks. Everything I have stated here is simply my opinions of that market. Since neither of us can factually prove it one way or the other let's keep in mind that this is OUR opinions. I am not here to DEFEND NASDAQ MM's on the OTC BB. I am simply here to give my opinion and the way I see it. However, I have stated before that everyone needs to take responsibility for the what they invest in. If you LOSE money in stocks, YOU need to take responsibility for it, especially if you invest in very speculative OTC BB issues. Remember, you signed a very long-winded RISK DISCLOSURE statement from your brokerage explaining that OTC BB stocks carry very big risks when you invest in them. If you lose money in those, it is very easy to say "Well it was the MM's manipulating it" rather than FIRST admitting it was a risky investment. If you think the game is rigged WHY would you invest in this area? Just my opinion but I never understood it. People will mail letter after letter to the SEC and ask for changes (and, by the way, that is a GREAT thing -- I applaud the movement for changes), but at the SAME TIME they hold onto or buy MORE of these same supposedly manipulated OTC BB issues??!?!?!? That makes no sense to me. Looking forward to hearing more from you. Thank you for your intelligent responses thus far (I am being sincere). All the best, -- Gene P.S.: Speaking as a trader (not an MM), where you refer to 'getting even with that MM' is a common mistake made by newer traders called "Revenge Trading". While you may have had some success with it, be careful. This type of angry, clouded judgement could be very costly (I know from experience about how "I was right and the market was wrong!"). Emotions are never good when it comes to trading -- just my $.02 worth.

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