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Strategies & Market Trends : Level II Trading

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To: ExCane who wrote (66)	2/4/1998 5:30:00 PM
From: Street Walker	Read Replies (5) of 1086

Market Maker RULE BOOK.................and Three Examples Experience with Immoral Nasdaq MANIPULATION Example: CSTR...came out with the biggest news release of their entire history. Their product would be placed in 800-1000 stores across the country. #daytraders got the news and we jumped in at 10 7/8. There was no previous run up days previous. After ALL buys..and NO sales (truely "HOT" buying), the mms' dropped the bid from 10 3/4 to 10 1/4 then to eventually 9 3/8. They dropped the bid on NO SALES and EXTREME buying. The next day the mm's dropped the bid even further. Go figure........this is just one example. They sold at the ask, then dropped the bid immediately hoping to scare investors out so they could buy their shares back for a delated run up days later. Example 2: When bad news hits a stock and it's on the loser list, it reaches a certain level and strong buying occurs, with no sells. Level 2 begins to strengthen. You expect the stock to begin a rebound. Not so. MM's will instantly drop the bid further. It falls some more. Then another run of buys occurs with no selling. Level 2 looks strong. Expect it to rebound? Not so. This is why I longer gamble with playing a "rebound" situation. MM's win this battle most, if not every time! Don't engage in this battle! Example 3: LONG TERM investors faithfully in a position, with stop loss protection. When good news comes out, MM's will drop the price to activate the stop losses and acquire shares, before making a run up in price. That's down right dirty manipulation against the faithful. MMs' are scum bags. MM's are enemy #1. We are at WAR with them! Go read The Market Maker Rule BooK --------as you notice, the pages are blank. We need a "Geneva Convention" for trading. S.W.

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