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Strategies & Market Trends : From the Trading Desk
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To: Lucky who wrote (2004)12/14/1997 3:38:00 PM
From: David Smith  Read Replies (2) of 4969
 
Lucky, my responses to your questions:

1. If my firm was about to upgrade or downgrade a stock I make a market in, the analyst would NOT call me to tell me what he was about to do. However, I can get a feel for the way an analyst feels about a stock I make a market in by calling him and asking him very general questions. Sometimes, the anlayst might call me and, rather than tell me about a positive or negative rec he was about to make, tell me that he just visited the company and came away with good or bad impressions. I would then read between the lines....it is all very subtle. Of course, I work for a massive financial institution that is strict about "chinese walls" and other rules...at some of these smaller brokerage firms, the complete opposite is often the case.

2. I make profits both short and long; I can be short a stock one second and go long the next, and vice-versa. My short/long positions are dynamic and impossible to break down from a profit perspective.
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