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

To: Janice Shell who wrote (263)	7/30/2000 1:18:57 PM
From: KHS	Read Replies (1) \| Respond to of 1426

Question for board..... XYZ company closes @ 44. At 4:10 pm the preannounce a shortfall (Be it slight). Aftermarket opens at 21. 400,000 shares trade. Next day 20,000,000 shares trade at that level with very little variance. Total float is 40,000,000 and traded on NAZ. Who sets the level for trading? Why so little variance? Any other insights? Thank you, Keith

To: Janice Shell who wrote (263)	7/31/2000 9:40:57 AM
From: Yogizuna	Respond to of 1426

If you're into masochistic amusement..... How did you find out about my secret fetish! ;^) Way way back in time, somewhere around 1982/3 if my memory serves me correctly, I used to trade options on gold at Monex, and I don't know how they did it either! <g> Even traded physical gold at Bullion Reserve, the firm that went belly up because they were not buying the actual gold, or enough gold with customer funds. The CEO then committed suicide, and a lot of folks were upset over that whole affair. That was one of the few times I was lucky though, because all of our positions were closed out about a month before all of that trouble. I remember taking a big hit to wallet when gold gapped down after a holiday weekend back then, and I was leveraged long..... Anyway, I sure hope that things have changed at the Philly by now -- after all, they don't want to embarrass GW! <g> Yogi