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.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (142016)	1/7/2002 6:44:29 PM
From: LLCF	Read Replies (2) \| Respond to of 436258

<The specialist cannot interfere with the book by bidding or offering against or in competition with it. So if paucity of orders increases elasticity and enables a little action to move price, this isn't due to specialist involvement. If anything the specialist provides the contiguity bridge so that if the public wishes to run price, they can do so without dropping into price holes.> Yes, at his convenience and depending on his position, that's what I said. He will let it rise on few trades when long or before going short when possible. As for not competing with the book, well that's only at the same price... he does it all the time by offering just below or bidding just above when he smells an order imbalance. <Don't kid yourself and if they think they are taking some advantage, they're kidding themselves. You don't last long with that attitude. Right attitude is to be humble and allow the market to provide through obedience to rules and pursuit of integrity in action.> All a matter of degrees of course.... I'll leave it that there are some that are much better than others at the game, but then that's life I suppose. <It doesn't work in the way you think, via some set up by the specialist. It works via the structure of the public's orders with the specialist merely an incidental participant. Everything you see occurring which the public blames on MM and specialist is only the result of endless machinations provided by the public's attempt to beat the market.> It's not a 'setup'... it's common sense, if he has 10k offered on his book with no more offers before up $1 and he sees some buyer come back he'll take it on a zero tick and let it go up on nothing. I don't think this is anything anyone who has been there disputes... as I stated before, I dont' even think it's worth trading. <Hedging is the worst thing you can do. Don't do it. It will only reduce what the world wants to give to you. > As I said, then you're at risk of the train hitting you. <This is another one of the myths that you must hold so that you can continue to believe that you can beat the market. Whenever anyone threatens your myths they must be attacked. What I told you is so profoundly true that virtually no one escapes it. Why should they. It's what the math indicates. The only way to win is to be lucky initially and quit while you're ahead. None of those "smart" guys does that, so they get "kicked upstairs".> If you're talking about the article being profoundly true I didn't disagree, just don't think it's particularly relevent on it's own, as I said. If you're saying you can't beat the market then then you'd be wrong IMO... what do you mean by 'win'??? <Why do you think they are smarter than me? Or why would you say such a thing? > I'm talking in an investing/trading way...JMO of course... what do I know but they are much more humble, a trait I consider very important... Why say it??? Well, why would you say they're going to blow themselves up??? FWIW the've sold out to Swiss Bank for hundreds of millions and they're off being successful on their own. DAK