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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: steve in socal who wrote (3807)	1/15/1998 7:24:00 PM
From: Bruce A. Bowman	Read Replies (1) of 18928

Hi jules- I'd heard that about Nasdaq reporting and assume that it relates to total shares traded statistics. Probably because it's (theoretically) possible for a mm to take shares into "inventory" (though I've been assured that a mm's goal is to be flat at the end of the day and hold no inventory). The contradiction is that if you look at a quote screen, each trade reports only a single transaction. At least as far as I can tell. I've paid attention to stocks with very low trading volume and seen my trade as the only reported trade for the day. The anomally that drives me crazy is that mm's can report sales up to 24-hrs after they occur. That's why when watching a quote screen you'll sometimes see quotes that are way outside the spread. Makes it impossible to trade Nasdaq stocks using sub-daily bars of data, and even daily bars are suspect since they can include transactions for the previous (or even earlier) day. Just recalling the above caused the tension to rise. Like revisiting the scene of the crime. AIM has definitely made my life easier. Bruce ps- "Sell dance"? hanging stock certs off various parts of the body? I don't want to think about that! :-)

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