Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: MIKE REDDERT who wrote (16723)	11/4/1999 10:57:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 29970

As I've explained to Eric, this: so it is not unusual for a MM to bid large blocks in order to precipitate buying and push the price up into the shares he wants to sell and this: Their job is to exaggerate moves in their favor... not to step in the path of ruin. are expressly prohibited. When I was a market maker if I did that I would be detected and that was before much of the current automation was in place. You can't hide because the trace is instantaneously available as is retribution. The market maker's job is to step in the path of ruin. That's the rules and that's making a market. It's the thing that makes you money. Everything else is based on the assumption that you know where markets are going. You don't last long in the business with that attitude. You either learn to accept what the market demands, get on the other side of the public action, or you walk. For some reason you don't hear many MMs express this unavoidable truth. On the other hand I never wanted to talk about it when I was operating because I hated the fact I was just a cog in market wheel. But that's what makes you the keep money. Doing your job. Due to the degree of automation the MM is sitting at a terminal and just reacting to numbers on a screen. It is very difficult to back away and avoid detection. That's not to say you can't manage your proprietary account as you see fit, but you can't interfere or manipulate the public action with your capital. Obedience to the market is the hardest thing to learn and most can't learn it and so wash out. This predilection for finding a manipulator is a long time American standard. The phenomenon is related to finding a conspiracy under every rock. The thing is that such specious conclusions never do you any good, so why reach them? There's a massive conspiracy to defraud you at the ECN, so quit dealing in stocks. You don't do that so the issue is moot. Therefore it's just a pet ax to grind.