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

To: LPS5 who wrote (7358)	3/12/2000 8:18:00 PM
From: ahhaha	Respond to of 18137

You have the correct attitude. It is the only attitude to have because what can you do about all that machinery and why would anyone care about it? You're trying to make money and you pull these handles to initiate action. Beyond that you're completely helpless. Why cop an attitude that does nothing but create resentment which interferes with your objective? If the machine was corrupt it would fail under its own misdeeds. The public doesn't need to pass laws and launch suits. That's grandstanding. Why not? The machine operators don't trust each other and to guarantee the integrity of the machine, that side is made competitive. The MMs have to compete with each other. That's what you see happening when all those colors change on L2 every second. The competition aspect is somewhat superfluous because it is the public that controls the action. The MMs act almost exclusively as agent in the interests of their clients. The only material intervention by MM is when the market is illiquid and the public refuses to provide liquidity away. If the MM failed to act, then other public would be burned because their action would have to go to an extreme to attract other distrusting public to provide the other side. The MM goes in and provides the other side not so far away, although they hate doing that because they think the public is right. Why does anyone believe that MMs and specialists know anything? The market knows better and rewards MMs for grudgingly obeying the rules.