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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: shasta23 who wrote (6232)	12/31/1999 9:25:00 AM
From: TheKelster	Respond to of 18137

Head Trader Alert #1999-84 - December 30, 1999 The Nasdaq Stock Market and NASD Regulation Reiterate the Obligation of Members to Comply with Certain Trading Practice Rules (Alert #1999-84) Please show this alert to your Compliance Officer In view of the importance of year end closing prices on December 31, 1999, The Nasdaq Stock Market, Inc. and NASD Regulation, Inc. would like to reiterate the obligation of members to comply with certain trading practice rules. Moreover, members should be apprised that Nasdaq® MarketWatch and NASD Regulation® closely scrutinize all potentially improper trading and quoting activity at or near the close of the market. Nasdaq MarketWatch will refer all potential rule violations to NASD Regulation for review. Although NASD Regulation generally bases formal disciplinary actions on patterns or practices of violations of trading rules, it will examine individual instances of the following rule violations during potentially volatile periods, such as the close on December 31, 1999, to determine whether disciplinary action is warranted. 1. NASDAQ SYSTEM AND PROCEDURAL CHANGES On Friday, December 31, 1999, The Nasdaq Stock Market® will close at 1:00 p.m., Eastern Time (ET), and will not have an extended hours session. The regular SelectNet® session will run until 2:15 p.m., ET. 2. FIRMS SHOULD ADHERE TO THE LOCKED/CROSSED MARKET RULE THROUGH THE CLOSE During normal business hours, Market Makers and electronic communication networks (ECNs)/alternative trading systems (ATSs) may not lock or cross the market unless they have first made a reasonable effort to execute transactions with all Market Makers or ECNs/ATSs whose quotes would be locked or crossed. Market Makers must comply with the locked/crossed market prohibition through the close of the market. Nasdaq MarketWatch and NASD Regulation closely monitor locked/crossed markets and violations of the rule will likely result in disciplinary action. In the interest of maintaining a fair and orderly market at the close on December 31, 1999, Nasdaq and NASD Regulation strongly recommend that market participants take responsible and proactive steps to minimize the impact of ECN/ATS fees on the frequency of locked/crossed markets. 3. FIRMS MUST ADHERE TO FIRM QUOTATION REQUIREMENTS Nasdaq also reminds all firms of their obligation to adhere to the Nasdaq "trade or move" rule. Specifically, Market Makers are required to immediately move to an inferior quotation upon failure to execute the full size of an incoming liability order. In addition, upon moving to an inferior quotation, a Market Maker may not utilize any electronic means ("autoquote") to move its quote back to its prior price level. Failure to comply with this rule may lead to disciplinary action by NASD Regulation. For more information on this rule, please refer to Head Trader Alerts #1999-38 and #1999-68 and NASD® Notice to Members 99-61. 4. FIRMS SHOULD NOT ENGAGE IN MARKING-THE-CLOSE ACTIVITY It is illegal to attempt to improperly influence the last sale or closing quote in a security. Nasdaq MarketWatch and NASD Regulation closely monitor all trade activity at or near the close, particularly trades occurring outside of the inside market; and scrutinize all quote activity at or near the close. NASD Regulation will pursue disciplinary action for any marking-the-close activity occurring on December 31, 1999. 5. TRADES ARE TO BE REPORTED TIMELY Member firms are also reminded of the obligation to report securities transactions within 90 seconds after execution. All reportable trades executed during market hours (9:30 a.m. to 1:00 p.m., ET, on December 31, 1999) not reported within 90 seconds after execution are to be reported as late (.SLD) and must include the time of execution. Nasdaq MarketWatch and NASD Regulation closely monitor trade reporting at or near the close of the market and any violations will likely result in disciplinary action. 6. FIRMS MUST COMPLY WITH THEIR BEST EXECUTION OBLIGATIONS CONCERNING THE EXECUTION OF CUSTOMER ORDERS INCLUDING GUARANTEED MARKET-ON-CLOSE ORDERS In any transaction for or with a customer, a member shall use reasonable diligence to ascertain the best inter-dealer market for the subject security and buy or sell in such market so that the resultant price to the customer is as favorable as possible under prevailing market conditions. A member firm's obligation to provide best execution to any customer order includes the execution of guaranteed market-on-close customer orders. It is important to note that the application of best execution concepts necessarily involves a "facts and circumstances" analysis. In determining whether it is providing best execution, a member firm, notwithstanding the fact that it may acquire significant risk by accepting large guaranteed market-on-close orders, should consider the market impact of its trading and quotation activity prior to the close and the effect it may have on the ultimate execution of its customer orders. It is appropriate for firms to offset the risk of market-on-close orders it accepts even though, given the size of positions taken, such action is likely to have market impact. At the same time, firms should not focus the bulk of their offset trading immediately before the close or effect that trading otherwise in a manner calculated to have maximum market impact. Nasdaq MarketWatch and NASD Regulation monitor member firm's compliance with the best execution obligation. Best execution violations will likely result in disciplinary action. Any questions regarding these matters and issues during the trading day may be directed to Nasdaq MarketWatch at (800) 211-4953 or NASD Market Regulation at (301) 590-6410.

To: shasta23 who wrote (6232)	12/31/1999 11:18:00 AM
From: F Robert Simms	Read Replies (1) \| Respond to of 18137

Just use it on S&P futures.

To: shasta23 who wrote (6232)	12/31/1999 12:16:00 PM
From: F Robert Simms	Respond to of 18137

Although I haven?t been doing it in the trading contest. The old 30 min 30 ema system allowed great scalping opportunities. The last couple of days, while the ema went sideways was great for scalping short profits from the long side one the oscillations Oleman from Avid has a similar system. A bit of his ?Gump? trading is mentioned here: intelligentspeculator.com and at the bottom of the page: twinight.org under the title oleman_files.txt When he is talking about the 30 min chart he is talking about the 30 ema( close to 34ema)