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

To: LPS5 who wrote (433)	8/4/2000 10:38:15 PM
From: Wayners	Read Replies (2) \| Respond to of 1426

I don't know anybody that has access to such message traffic. I don't get invited to weekly analyst "meetings"with companies or other selective disclosures. I don't get hot IPO's at the offering price. I don't collect a spread, matching riskless customer orders. I'm not first in line at the bid or ask because of payments (kickbacks) for order flow. I can't call up Barrons or Maria Bartiroma with a "scoop" to make a stock move the way I want. I don't have access to all my brokers limit order books. I can't flip IPO's, I have to hold them or be denied the next offering. I don't have access to immediate analyst estimate revisions. I don't have the 30 minute lead time on new analyst reports or comments. Seems like a level playing field to me. If you don't think insider trading is rampant among big players your head is in the sand. Any chartwork will confirm that. SEC only has 400 for enforcement actions. The chances of getting caught let along convicted are nil. These chumps can't make money in any legitimate way the way I do, they have to steal it instead. They say the markets don't like uncertainty. Well the opposite of that is certainty which implies no risk and inside information that is a sure thing. These people may make lots of money and think they command respect. I don't think so. They're a joke.

To: LPS5 who wrote (433)	8/4/2000 11:00:24 PM
From: gene_the_mm	Read Replies (1) \| Respond to of 1426

REGARDING SUPER MESSAGES... Bravo LPS5, another clear, concise and well-written explanation. One more thing regarding indications of interest (SUPER messages). Many firms will 'super' indications when they have nothing going on in a stock but have an interest in simply 'being involved'. Many firms will 'super' messages on the opposite side of major daily trend also, to try and gain new customers and drum up business. In other words, firm ABCD wants to be involved in stock WXYZ. WXYZ is ripping to the upside by 5 points right now and looks poised to move higher. Firm ABCD is willing to outlay risk capital in order to get some business. They also are 'in touch' with a large institutional customer that has expressed they might have an interest in selling some WXYZ but only if they can move the entire block of 2 million shares. Firm ABCD will SUPER they are a large seller on AUTEX for 250,000 shares. In this way they are potentially going at risk in order to try to either match the buyer and seller at some point or simply find new business by laying out their own capital and show new customers they are a 'stand-up' firm. Essentially, the Super messages (if you are one of those investors/traders who watches Thompson's I-Watch web page) should be taken with a 'grain of salt'. All the best, -- Gene P.S. I will get to the rest of the questions posed on Sunday. Thanks all.