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

To: ISOMAN who wrote (486)	8/6/2000 10:45:10 PM
From: SteveDavis	Respond to of 1426

Question for Gene: Could you walk us through your thought and action process when making the market in a moderate moving stock with average volume of say over 500,000 shares. How close to the inside bid/ask do you stay and what are the legal obligations. As a matter of company policy/capital do you set your size in each stock daily or weekly or just on the fly? Does the company set how much capital is devoted to make the market in XXXX stock? I hope I am making myself understood here. I think some explanation of this process make dampen some of the conspiracy talk as you explain exactly what a MM actually does, especially when not working a large order. Thanks Steve Davis

To: ISOMAN who wrote (486)	8/7/2000 1:46:06 AM
From: Bilow	Respond to of 1426

Hi isoman; Yeah, John L. Morgan Jr. (pictured in link) has relatively wide IPD for a pilot, but it is still considerably narrower than human normal. If you design HMDs for the military and you only allow 2 S.D. below average for adult IPDs, you end up with their best pilots screaming bloody murder. Eventually I'll find a web picture of a bunch of pilots standing around with the mechanics and armament fitters &c., and you can easily see for yourself the oddity. But the next time you are with a group of traders, take a good look at them. They follow the same tendency, if not narrower. I'll look around the net and try and find some pictures of (high speed) traders. It is very surprising. -- Carl P.S. Flying an F-15 takes a lot more than just a narrow head. I think that it is even more complicated than a Naz workstation interface...

To: ISOMAN who wrote (486)	8/7/2000 3:03:12 AM
From: Bilow	Respond to of 1426

Hi isoman; I have only found one photograph of a trader (frontal, showing the IPD), but he was one narrow eyed dude: Jesse Livermore global-investor.com Found another. Also very, very, very narrow eyed: J. Pierpont Morgan britannica.com -- Carl