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Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: gene_the_mm who wrote (12)	7/25/2000 10:50:13 PM
From: Janice Shell	Read Replies (2) \| Respond to of 1426

We all read endless numbers of posts by soi-disant "traders" who've signed up for Level II and claim they now know every move the MMs are making. (Usually they tell us that they're "walking it down"--but never up, why not?--or "doing the usual headfake", or the like.) My own impression is that most of the time they haven't the faintest idea what they're looking at, much less what they're talking about. What are the normal mistakes of interpretation people with Level II are likely to make? And what important activity CAN'T they see? Should they put as much faith in their Wonderful New Toy as they invariably do?

To: gene_the_mm who wrote (12)	7/25/2000 10:58:52 PM
From: Perry Ganz	Read Replies (2) \| Respond to of 1426

Hello Gene and its great to have you here After the close yesterday (7/24) a trade went off for 1.1 million shares of QCOM I was wondering if you could tell us what generally happens on a huge trade like this. I read that the trade was done at the average price of the day, can you guys do that? Do you know ahead of time when a big trade is coming so that you can accumulate/distribute shares? any insights are appreciated Perry