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: Threshold who wrote (1370)	2/17/2002 11:32:01 PM
From: gene_the_mm	Read Replies (2) of 1426

AJ...IF ONLY IT WERE STILL THAT SIMPLE... While I will agree there were a few good tactics MM's used to be able to pull under the pre-SUPERSOES system that would definitely bring lambs to the slaughter, times have changed. SUPERSOES really did level the playing field. However, it's ironic to hear veteran daytraders bitch about it and the trading environment now when they were all so gung-ho about it before. What they didn't realize was that SUPERSOES removed EVERYBODY's edge in the NASDAQ. The true beneficiaries of this change are the investment public, and I believe that was the intention all along (though they do not have a clue that they are actually benefiting). The problems that SUPERSOES have created are an overabundance of noise and headfakes, most of which ARE NOT intentionally drive by someone but merely the blind leading the blind. I have found direction is much less clear in the shorter-term and have moved my strategies to much longer time-framed charts. I will post as I learn about new MM strategies. Basically the big firms will just run and gun when they have an order, and those types of moves are obvious. I wonder if sometimes they dont gun the stock one way just to move it the opposite, but it's impossible to tell. To me it seems like a stupid waste of money and potentially a bad idea. Other than all the noise (EKG looking charts), the longer-term charts work better and are more transparent now, IMO. AJ, if it makes you feel any better, I know an abundant supply of former MM's either getting laid off, looking for a new career or barely hanging on to what is left. I would estimate profits are down about 70% at all shops between lower volume, decimals and SUPERSOES -- but just my opinion. I don't think there are too many tricks left. All the best, -- Gene

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