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Strategies & Market Trends : Let's Make REAL MONEY (Big, long-term cap. gains)

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To: BenYeung who wrote (56)	12/22/1997 3:59:00 PM
From: Don S.Boller	Read Replies (1) of 135

Ben: I don't have any "inside info." but having been a broker and well trained at a major NYSE firm - I understand how some things work. I too read Ney's book many years ago and found it interesting but not earth shattering....I'm not sure if the specialists can still have two Accounts but, thats' not the whole point. If you try and trade against them - you do not see their "hole cards" so to speak, but they see yours. Your limit or stop order is in his book!!! Somewhat the same is true of major market makers in NAZ stocks. Good traders, particularly those in the "block dept." KNOW where all the stock is in the company they trade....they know who wants to buy and at what price and who wants to sell at what price. These prices are changing all the time, of course, but the trader is on the wire (computer screen) all the time - trying to Buy at the bid and sell at the asked. That's simply how they make money for themselves and the firm. Suggest you read "Liar's Poker" - about bond trrading at Solly (also about M.Milken). Best Don

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