Paul: The Olive Branch Is Still Extended
>>"but this market will continue to go up until guys like Paul throw in the towel and disappear">>
I wrote 'like Paul"....I didn't mean specifically or necessarily YOU Paul.
Please, you have your own agenda and would probably be the last to give in to any mania. The problem is, this switch does not have to be a manic one. It can come slowly over time as we/you/all of us are lulled into buying dips in big name issues for the expected bounce that never materializes.
>>This would be an insult if I could figure out what you meant. Its not guys like me that are buying into this market. Or do you mean that the MM's will hold the stocks up just for me until I cover my short positions? Or are you just looking to say something nasty without coming right out and saying it? >>
Its about the long process required to position the vast majority of players into stocks, not just for the long haul, but for short term trades, even day dips and moves, etc.
MMs in huge stocks like Novell do not "hold up stocks". What they have a propensity to do is keep the price of any stock moving - fluid - up/down/up/down/down/down, then zap the public sells...which is followed by the snap back 1/8 or 1/4 during which the MM is selling out. MMs trade for 30 second, 1-4 minute periods.
There is usually a "bead" MM in any given NASDAQ issue - this may be the house with the right research, most clients, largest pockets or whatever. Oftentimes there is an independent MM that just is good at anticipating intraday moves. He or she also has the balls/guts to really "step-up" when the tide shifts, even against the bead in the stock. The bead in an issue will not necessarily be the one that decides or determines a shift in direction since he/she really has no incentive to initiate - when you have market share, the market comes to you for you are the market, etc.
In todays market, this gets more complicated as we have a veritable sea of discount players from Datech and other firms who are there to pick up the slack. The good market makers know how to play the discouters against their position on trade-through extensions for that last 1/8 or 1/4 point.
Paul, again no offence. Catch....I just threw the olive branch.
Good Luck!
Note: Does anyone have any suggestions on where I should go in Frankfurt and Heidelburg Germany? I will be travelling there soon, caring for my two boys 4 yrs and 8 mos while my wife presents a program for her business. We are planning to ride the autobahn to Zug Switzerland so visit friends. |
