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Strategies & Market Trends : SOES Trading -- Ignore unavailable to you. Want to Upgrade?

To: Hawk who wrote (1130)	11/13/1997 9:27:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 1618

Marc, As a potential soesr I have a couple of questions for you. Do you know anyone making money soesing? Do you trade on the Nyse?If not why not? Did you train for soes? What amount of $ did you begin with?GD

To: Hawk who wrote (1130)	11/13/1997 9:45:00 PM
From: TFF	Read Replies (1) \| Respond to of 1618

Marc so your saying that if DELL goes from 77 to 75 in a downdraft you will get filled @ 75 if you sell at mkt when it was bid at 77?????

To: Hawk who wrote (1130)	11/13/1997 10:13:00 PM
From: Jack Zahran	Read Replies (1) \| Respond to of 1618

>> You can try to get out through a third market such as Island, but when the stock is moving fast, It is to no avail. I agree with you, a trader though needs to look beyond SOES and the ECN's. Looking at the Nasdaq Trader site on some of the stocks I like shows that the individual MM's typically handle more volume than Island. In my opinion traders that limit themselves to SOES or an ECN like Island are really at a disadvantage. Am I right?

To: Hawk who wrote (1130)	11/14/1997 12:13:00 AM
From: Dave O.	Respond to of 1618

< MM's have the upper hand and your at their mercy, rules or no rules> They do have the upper hand since they don't have to take your trade. They can back away or give you a partial fill. I had 2 trades today where I preferenced a MM on Selectnet, one was filled and the other (a buy order) they rejected and raised their ask price. I've learned to stay away from stocks like INTC, DELL, AMAT, .... since they can move really fast and your fill may be well above (or below) the price at the point in time you submitted your buy (or sell) order. Dave

To: Hawk who wrote (1130)	11/14/1997 7:44:00 AM
From: Bernard Newman	Read Replies (1) \| Respond to of 1618

My experience mirrors Marcs. I suspect that he was trading INTEL since he listed that as his favorite stock on his profile. I also tried to trade INTEL, AMAT and MSFT only to find EXACTLY what MARC was saying...you cannot get filled either IN or OUT during moves. In fact, a good discount web broker would be better since you can use limit and stop orders, which you cannot do with SOES. Too bad it cost both Marc and myself in excess of $10,000 to find this out, but them there are the facts! BERNIE