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

To: ISOMAN who wrote (508)	8/8/2000 12:42:04 AM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 1426

Hey isoman, You tell that story in jest, but many a truth is spoken in jest. Actually, you are correct. I've had many an exchange (some of them even civil) with these penny addicts that truly think that 100K shares of a 1 cent stock is actually much better than 10 shares of a $100 stock. They actually tend to ignore the reality of any spread that simply makes it nigh on impossible to actually realize a profit, let alone understand that a 10% gain is a 10% gain, regardless of the underlying security. The argument goes that they only need to increase the price by a penny to make money, completely ignoring the fact that a one penny increase is a 100% gain. They also tend to focus their attention on the last transaction price (Level I) rather the spread. Yet they pay inflated fees for access to a Level II system that the vast majority don't understand. Too bad, so sad... KJC