SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Meet Gene, a NASDAQ Market Maker
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Sir Francis Drake who wrote (783)8/26/2000 6:08:11 PM
From: Dan Duchardt  Read Replies (1) of 1426
 
Morgan,

I agree with you that QLGC or other issues that might have been influenced by the hoax are too far removed to take any "corrective action" like busting trades. My strong feeling is that by stopping trading long after serious damage had been done to many people, and then resuming trading after the hoax had been exposed and that news disseminated the regulators did more harm to more people, and created windfalls for more people that the hoaxers did. It would have been far more helpful, IMHO, for NASD and EMLX to have issued a bulletin to the wire services AS SOON AS they were aware false information had been released to the public instead of no doubt adhering to some antiquated protocol for reporting and dealing with such events.

Personally, I think every effort should be made to remove event driven price discontinuities from the market instead of artificially creating them. I took a 2 point stop loss on a $13 stock the other day that I entered without realizing they were reporting earnings after market that day. I looked it up and knew it well before I stopped out, but in hindsight it is obvious that somebody who was in a position to influence a lot of shares knew it several hours before the announcement, at which point it dropped another 3 points in after hours trading. Why announce when the market is closed? Who does that help? Only the people who have inside information. IMHO, it should be mandatory that all major announcements should be made during market hours, and preferably during the middle part of the day. At least that way the public has an opportunity to react. Sure, there will still be an advantage to getting the information early. There is no way to change that, but at least you can create ramps between the highs and lows that now appear as huge gaps.

Dan
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News