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: Walkingshadow who wrote (848)	8/30/2000 9:19:15 PM
From: gene_the_mm	Read Replies (1) of 1426

WALKINGSHADOW... I see people 'chiseling' the spreads all day in every stock I trade. It is a natural part of trading, especially in fast moving stocks where sentiment turns on a dime. I simply trade based on which direction (the general daily trend) the stock is CURRENTLY heading and try to hold on through some of the wiggles and jiggles. It is too easy to churn up your trading account by trying to be involved in EVERY tick. Some of these stocks move so fast it is nearly impossible to try to 'find a top (or a bottom)'. Thus, you simply try to get a part of the moves rather than hedge against what anyone 'chiseling' might be doing. My best advice to you is do not try to read into the market what one or two people might be doing. Rather, try to get a feel for the general consensus in the stock and see the bigger picture. If you are going to 'follow' the ECN's around then I suggest you try to trade 'with' them (when stock starts showing up you want to be in the same direction)... you might find it works for you (just my opinion of course--every situation is obviously going to be different for you). Good luck in your trading, -- Gene

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