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To: David Smith who wrote (128)	12/14/1997 2:08:00 PM
From: Len Giammetta	Read Replies (1) \| Respond to of 2377

>>instead of using me as a very willing resource<< If I may, I'd like to use you as a willing resource. I have a very basic question. On the following site, what do the volume totals indicate? Do they represent total share volume traded per MM, or do they represent inventory owned by each MM in the specific issue? Also, when evaluating that data, what significance can be placed on it? Thank you in advance. nasdaqtrader.com

To: David Smith who wrote (128)	12/14/1997 3:56:00 PM
From: Christopher	Read Replies (1) \| Respond to of 2377

Christopher Smith, << I've been dubbed a "pissed-off marketmaker." Pretty tough to understand, but not altogether unexpected.>> Chris, you and Gabard have one thing in common. You don't have any diplomacy or tact when it comes to communication and you seem to be unaware of that from you above comment. I have been watching this thread for a while and I have never been involved in buying or selling a stock based on any one recommendation. I am a professional and I am very good at communication. You may have a very good case but you easely alienate your audience because you don't pay attention to how you word yourself. You and Gabard come accross like you are mad at the world and have personal problems. Remember, I am an outsider and have no interest in defending anyone. Instead of making comments like " Pretty tough to understand, but not altogether unexpected" you should look at improving your communication skills or you will continue to get the above response. The Bible says you can say the truth in love. I have not seen any love in what your orginal memo said or what Gabard had to say. If you have a case then say it without offending or alienating anyone and let people make decicions for themselves. You may have got better response if you made recommedations and stated why you have different opinion without offending any one. Anyway, communication is an art and we all could get better at it.

To: David Smith who wrote (128)	12/14/1997 4:46:00 PM
From: CENTrader	Read Replies (2) \| Respond to of 2377

Christopher, With this post, I will attempt to change the "direction" of all the replies presented to you thus far. <<I've printed out that post and will be taking it to work tomorrow, where the traders on the desk will get a huge laugh out of it. Ben, if you think you are a client of mine or any other MM, or that we are in business together, or that I will not use every technique possible to out-trade you and take your money in any way I can so I can put braces on my kid's teeth and send them to private school, you should put all your money in an index fund and watch the game from the sidelines. The only "clients" I have are $20 billion mutual funds and hedge funds open only to the extremely rich. This is an extremely important point to understand if you are serious about playing this game. >> OK....If this isTRULY the case.....,What strategies, investment "tools", etc. can you recommend to me, the small investor, to have a chance at being successful in this dog eat dog world of investing?? Please be specific....Let's get down to the Meat & Potatoes here!! The only thing I've been reading here thus far has everything to do with character asassination & not much about successful investing! Thank you in advance, Chris, -Bill-$^

To: David Smith who wrote (128)	12/16/1997 11:32:00 PM
From: Serendipity	Respond to of 2377

You wrote: <<I thought that it just might spur some to think for a minute about what they are basing their next trade on. So far, the responses have been about what I expected...instead of using me as a very willing resource or even responding intelligently to the issues I raised, I've been dubbed a "pissed-off marketmaker." Pretty tough to understand, but not altogether unexpected.>> Christopher: No misunderstanding here! I have learned more from your writings in few hours than reading thousands of posts on various boards and conversations with brokers and traders. Keep up the good work and please consider that there are many who appreciate your writings. Thanks again.