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.

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

To: gene_the_mm who wrote (15)	7/26/2000 7:42:24 AM
From: IEarnedIt	Read Replies (1) \| Respond to of 1426

Gene, Welcome to SI. I don't have Level II, although I keep telling myself I really should get it, I'm not completely convinced that it is that beneficial for me as I am not a "Day Trader" Your views on Level II and its advantages to the individual position trader would be appreciated. :-) JD

To: gene_the_mm who wrote (15)	7/26/2000 8:13:40 AM
From: AugustWest	Respond to of 1426

Hi Gene, welcome to SI. I'll mostly be lurking here, but I'm sure I'll learn a lot from this thread.

To: gene_the_mm who wrote (15)	7/26/2000 12:43:42 PM
From: Brasco One	Respond to of 1426

i have always liked educational threads. thanks for sharing your time with the rest of us. wanted some of your comments on the traders at NITE.

To: gene_the_mm who wrote (15)	7/26/2000 2:22:31 PM
From: jbIII	Respond to of 1426

GENETRADER, Welcome to SI. I've enjoyed your posts on RB and look forward to many more.

To: gene_the_mm who wrote (15)	7/26/2000 7:25:52 PM
From: Mike E.	Read Replies (2) \| Respond to of 1426

Hello, Gene. I have a question regarding the reporting of trades of NASDAQ listed issues. If I am viewing Level 2 on a stock and I see transactions being reported higher or lower than the current inside bid x ask I wonder about the timing of the trade reports. This is most noticeable when it happens with block (large) trades. My question is, can the MM delay the reporting of trades to make it appear they are happening in real time at prices higher or lower than the current market? If so, how long can the transaction report be delayed? thanks in advance, mike

To: gene_the_mm who wrote (15)	7/27/2000 7:21:45 AM
From: Gary Wisdom	Read Replies (1) \| Respond to of 1426

Gene, re: MM non-participation Gene, first of all, thanks for taking the time to answer all these questions. It's appreciated. I'm in a stock that I've been trading for a long time and know very well. It is extremely thin with avg daily trading volumes ranging from 100,000 a day to 300,000 a day (on a monthly basis). But rarely do you ever see a bid or offer more than 100 shares and it's a $3-4 stock!!! Anyway, my question is from time to time, I'll wake up in the morning and 70% of the mms aren't live for about the first hour of the day. Sometimes, many of them don't make a market the entire day. It was my understanding that it was a requirement that they show a live bid and offer at all times unless they're excused for the day. I've initiated an investigation with Stockwatch/Nasd but they're worthless as most of the people there don't know anything and can barely discuss this topic without showing their ignorance. Question is: are they or aren't they required to post live bids and offers throughout the trading day? Thanks.

To: gene_the_mm who wrote (15)	7/27/2000 7:24:58 AM
From: Gary Wisdom	Read Replies (1) \| Respond to of 1426

Gene, one more this time about Nite Gene, I've seen many times Nite bid or offer 100 shares right above or below a customer's large order. I know this because at times you can see the large order and then Nite steps in front of them. It's my opinion, they're doing this to get the customer to buy or sell to them higher/lower. Is this legal/ethical/allowed? Considering Nite has access to many broker's books, how can they be allowed to get away with this? And is it at all possible that for example, when they get a margin blowout coming, they tell their buddies at other mms so that they pull their bids? Thanks.