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.
Technology Stocks : Novell (NOVL) dirt cheap, good buy?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Joe Antol who wrote (17936)10/11/1997 2:50:00 PM
From: dwight vickers   of 42771
 
Joe,

It's been a long time since I checked the details (not a day trader) but there is a level beyond Level II quotes that Market Makers get which shows them the bid/ask/size of all Market Makers. Like I said though it's been awhile.

More importantly the "BIG" SEC investigation of a couple of years ago discovered (taped phone conversations) of MM's at "competing" firms giving each other "heads up" type calls about large customer orders they had received and not yet executed.

Cute, huh? So my bad attitude about those people stems from the collusion in price and spread setting that the investigation found, and the fact that no one went to prison for stealing from customers.

Not being paranoid, but anyone who doesn't like my saying these things should be aware that the information was in the report that was posted at the SEC web site for a long time, and was read verbatim by Mark Haines on CNBC.

The MM's in stocks like NOVL are the huge firms including the Merrill's, Dean Witter's and others. They "know" what's going on and use it to their own advantage and their customers (and others) disadvantage. No one really thinks these guys make their profits on commissions, do they?

Dwight (Screw NASDAQ and the SEC, and now you know why) (Screw MER and The Dean, too)
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