Dentique.....Just a note.......
Since the poster Anthony@ Pacific has previously identified himself as to his real identity on SI , I am not violating any terms of use by telling you who this person is...
Anthony@Pacific is one "Tony" Elgindy..
Who you ask is Elgindy?
Here is some information about this individual so you can put his words in to a greater context and realize his penchant for bashing is his modus operandi . Please alo note his delusions of grandeur are also his undoing
0.87 nasdr.com
No Title
Excerpt: Disciplinary Actions Reported For November NASD Regulation, Inc. (NASD RegulationSM) has taken disciplinary actions against the following f...
Amr I. Elgindy (Registered Principal, Colleyville, Texas) submitted an Offer of Settlement pursuant to which he was fined $30,000, suspended from association with any NASD member in any principal capacity for one year, suspended from association with any NASD member in any capacity for 30 days, and required to produce a copy of his member firm's implemented written supervisory procedures specifically with respect to overseeing his activities to deter and detect a recurrence of the conduct alleged in the complaint. Without admitting or denying the allegations, Elgindy consented to the described sanctions and to the entry of findings that he caused his member firm to execute 108 orders through SOES for the firm's account. The findings also stated that Elgindy caused his member firm to enter non-bona fide orders through the SelectNetSM System for the firm's account that were either timed out or canceled by Elgindy before they could be executed. Furthermore, the NASD found that Elgindy caused trades reported to ACT to be canceled by failing to acknowledge or confirm such trades. The NASD also determined that Elgindy failed to ensure that his member firm establish, maintain, and enforce supervisory procedures that would have enabled the firm to deter and detect the above conduct.
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phactor.com
A lender of a stock holds all the cards. At any time after he has lent the stock, he can call it back in; the borrower has three days to return it.
Or a marketmaker can push a stock up on little or no volume at all. One trader's story involves a Nasdaq-traded health maintenance organization called WellCare Management Group. On May 23 the trader had an order to buy 10,000 shares of WellCare, a sizable order in a stock that trades roughly 45,000 shares a day. For individuals who were looking to buy WellCare, the stock carried a dollar spread, but the inside market in the stock--that is, the price at which dealers can buy and sell--was 12 5/8 bid, 12 7/8 asked.
One of WellCare's marketmakers was Key West Securities, a year-old firm out of Fort Worth, Tex. The trader looking to buy did 3,000 shares electronically at 12 3/4. To get the other 7,000 done, she called Key West and said that she had stock to buy. It was around noon.
The Key West trader put her on hold and proceeded to take his offer price from 12 7/8 to 13, then 13 3/8, then 13 1/2. She watched him do this on her screen--it took less than 30 seconds--but the dealer never returned to the phone. "I called him again and threatened to file a complaint with Nasdaq, and he clicked the phone in my ear," she recalls. "My client ended up paying $13.47 on average for the trade." A Key West principal, Amr Elgindy, said "I have no idea what you're talking about.'' He was unable to say if he had made a market in WellCare that day. The stock closed the day at 12 1/4 bid, 12 3/4 asked. |
