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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: LPS5 who wrote (433)8/4/2000 11:00:24 PM
From: gene_the_mm  Read Replies (1) of 1426
 
REGARDING SUPER MESSAGES...

Bravo LPS5, another clear, concise and well-written explanation.

One more thing regarding indications of interest (SUPER messages). Many firms will 'super' indications when they have nothing going on in a stock but have an interest in simply 'being involved'. Many firms will 'super' messages on the opposite side of major daily trend also, to try and gain new customers and drum up business. In other words, firm ABCD wants to be involved in stock WXYZ. WXYZ is ripping to the upside by 5 points right now and looks poised to move higher. Firm ABCD is willing to outlay risk capital in order to get some business. They also are 'in touch' with a large institutional customer that has expressed they might have an interest in selling some WXYZ but only if they can move the entire block of 2 million shares. Firm ABCD will SUPER they are a large seller on AUTEX for 250,000 shares. In this way they are potentially going at risk in order to try to either match the buyer and seller at some point or simply find new business by laying out their own capital and show new customers they are a 'stand-up' firm.

Essentially, the Super messages (if you are one of those investors/traders who watches Thompson's I-Watch web page) should be taken with a 'grain of salt'.

All the best,

-- Gene

P.S. I will get to the rest of the questions posed on Sunday. Thanks all.
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