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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: E. Davies who wrote (7355)	5/24/1999 10:58:00 PM
From: shag007	Read Replies (1) of 12617

Eric, I have to agree with Alan. The overhead will be more than what it will bring to the bottom line for them. Furthermore, those people you speak of will not add enough volume to make it an efficient market. They will be able to play with the spreads and even more, because they can start moving the quotes around (say you want to buy 1000 shares, they fill 100 and move the ask up, fill one hundred more and...) Someone could come in on the bid to take advantage but in a thin market wouldn't be able to do much. Just because you plan to hold longer than a day or a week doesn't mean you should be willing to give up 1/2 a point, a point or more.(or anything for that matter) If that's the case however then just place an open order for the market open with room to spare. Today a CEO of a net broker (I think it was Suretrade) said on CNBC they will not be opening up during those hours. The mom and pop types that you speak of are also the one's that need the most hand holding and as it is these brokers need to keep their overheads as low as possible. IMHO, the idea will be a flop. FDA

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