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Strategies & Market Trends : Level II Trading
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To: Darren who wrote (228)2/25/1998 9:26:00 PM
From: robert klasky  Read Replies (1) of 1086
 
>>Block has lost 5 offices recently - San Francisco, Long Island, Fairfield, San Antonio and Ft. Lauderdale. If you own an office and you have 16 people doing one trade a day, you're toast. Break even is 250 tickets per day. A good office must have a core of big ticket traders, or it won't survive.

I'm curious as to where you got this info (closing of the Block offices). Someone on this thread posted an article from the Chicago Tribune about an office in Chicago that had closed, but that there was another one opening up in its place. That's the only one that I've heard about. If you could post the URL's of any articles about the daytrading business (as opposed to daytrading in general), I sure would appreciate it. Like I said, I've seen the one from the Chicago Tribune that was posted here a couple of weeks ago.

Is the closing due to a general dryup of daytraders, or competition from other daytrading firms? All-Tech has been advertising heavily on Bloomberg radio out of New York.

Thanks,

bobk
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