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 (894)	8/30/2000 10:36:51 PM
From: Leland Charon	Respond to of 1426

Gene, Kind of a silly question but I am curious as to what type of computer set-up you use? Do you use LCD (flat screens)? Thanks, Leland

To: gene_the_mm who wrote (894)	8/30/2000 11:06:44 PM
From: compradun	Respond to of 1426

I couldn't agree more. Douglas' book is a must read and it is available in the bargain bin to boot. Comp

To: gene_the_mm who wrote (894)	8/30/2000 11:34:40 PM
From: Threei	Read Replies (2) \| Respond to of 1426

Gene, oh yes, this one was the first I read on trading psychology and I should have mentioned it before others as it should be read first. Interesting thing (and probably it's a common pattern): at the start of my trading career all I was interested in was method, strategy, setup etc. The more I trade the less I care about this kind of things. Market has convinced me that in order to win I don't have to deal with market. All I have to deal with is me. And BTW, reading your posts, I really doubt you need anyone's advice on daytrading <G> Vadym

To: gene_the_mm who wrote (894)	9/8/2000 5:18:48 PM
From: Apakhabar	Read Replies (5) \| Respond to of 1426

Hello Gene. I got a call from my brokerage just now (Friday after hours) that the 200 shares I just bought are going to be reviewed by NASD and that the trade might be broken. The stock after trading a lot at 18 x 18 1/8 sold off a bit and closed at 17 3/4. At 16:08 a trade at 17 3/4 went off. At 16:12 or so, I saw 1000 shares offered over INCA at 17. There was a single ECN bid at 16 1/2 on Island and nothing else; the next offer was at 18 I think. Liking the price but not knowing if something was up I bought 200 shares; somebody else bought 800. (The tape showed trades of 200,200,200, and 800 at 17). Moments later somebody bid at 17 on Island, and somebody offered 100 at 17 9/16 over ISLD, and that was the last trade of the day. The party that sold to me claims it was a "clearly erroneous" trade and that they had intended to post the offer at 17 7/8. I"m told I won't know the result until Monday but it seems crazy to me that this trade should be under review. What do you (or anyone else) know about the "clearly erroneous" rule? And do you think it should apply here? FWIW about ten months ago I sold 100 shares of stock after hours to somebody at 10 1/2; the closing bid-ask was 11 7/16 x 11 9/16 and I just read the screen wrong (the buyer or somebody withdrew his 11 7/16 bid and the 10 1/2 immediately replaced it). It never occurred to me to try and break THAT trade (I just wised up a bit).