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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: tekie2k who wrote (14738)	11/19/2001 12:39:09 AM
From: LPS5	Respond to of 18137

6420 paragraph (1) WHERE IT CLEARLY SHOWS ACT IS 90 SECOND DELAYED. It absolutely does not. You need to learn to read. It says, in the 6420 paragraph you referenced: "Registered Reporting Members shall transmit through ACT, within 90 seconds after execution, last sale reports in eligible securities executed during the trading hours of the Consolidated Tape otherwise than on a national securities exchange. Registered reporting members shall also transmit through ACT, within 90 seconds after execution, last sale reports in eligible securities executed in the United States otherwise than on a national securities exchange between 4 p.m. and [5:15] 6:30 p.m. Eastern time. Transactions not reported within 90 seconds after execution shall be reported as late and such trade reports must include the time of execution." Now where does that say that "ACT is 90 seconds delayed"? Nowhere - nothing even close to that. IT ALSO CLEARLY STATES "LISTED STOCKS". If it states that, it's not "clear," LOL. Your quick reading or willful omission, coupled with your arrogance, lead you to make a class A fool out of yourself. What is stated clearly is that the rule includes "over-the-counter transactions in listed stocks." Those are third market, telephone trades, such as I previously mentioned. OK? Read it again. And again, and again, if necessary. IT ALSO CLEARLY STATES the old TRIAL rule was not extended past march. No, it doesn't. What it says, if you look at the last few sentences in the paragraph at the top of the second column on the first page, is the following: "The text of the proposed rule change is below. Proposed new language is in italics. Proposed deletions are in brackets." Ah, okay. So, where are the brackets and italics in the subsequent paragraph, indicating the changes made? Changing 5:15pm to 6:30pm! This is an extension of the pilot program whereby the 90 second reporting rule - long practiced (for years) during normal market hours, 9:30 EST to 4:00 EST, was first introduced to after hours trading; specifically, changing the cut-off from 5:15 to 6:30. LOL!!!!!!!!! YOUR "THEORIES" are right on the money. Theories? I don't have theories about the 90 second reporting rules; it's you who've asserted, increasingly hilariously in light of the evidence you yourself have presented in the form of the link, that the 90 second reporting rule is "new." Actually, I do have one theory in the works, and you'll either prove or disprove it in the course of the next few days or weeks, in subsequent posts on this thread.