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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Dominick who wrote (2325)	1/18/1998 2:36:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 4969

Yes, I agree that the NASDAQ has that well-deserved reputation of being the manipulators of their market. They are trying to protect their interests which lead them into what I see as a "grey area" of ethics. Some more agressivly pursue their self-interest than others. Those agressive and careless MMs are the ones that cause the problems. However, we as traders still need to deal with this. What I am saying is that market manipulation is overused as the excuse for a trader's failure. Many times that a trader thinks a stock has been manipulated against him, the source of the problem can be found in their own execution of the trade. For that matter, ultimately the market does not care about a specific John Doe Trader. Traders are faceless to them. But there are people in their losing pattern that do believe the market is "out to get them". This is a silly and unhealthy attitude towards the markets that will facilitate more losses for that trader. Bob Graham

To: Dominick who wrote (2325)	1/18/1998 2:51:00 PM
From: steve goldman	Read Replies (3) \| Respond to of 4969

Excellent Discussion. I think most on this thread know my position and what I feel the market makers and those interested in less liquid stocks are capable of. Another interesting point about the nasdaq mm; The SEC censured the NASDAQ 100 million for this collusion, manipulation and lack of oversight. Who do you think is picking up most of the tab? The individual investor. Ever notice that when you sell a stock, there is a very small percentage deducted from the net proceeds. This is the fine being passed along. Ever notice who heads the board for the NASDAQ? CEOs, CFOs etc. at Merril, Lehman, Goldman Sachs, etc. the fox watching the henhouse. Hope everyone is having a great weekend. Regards, Steve@yamner.com

To: Dominick who wrote (2325)	1/18/1998 4:43:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 4969

Dominick, I ask that you specify what you do not agree with. I am not setting myself up here to be the "expert". I am just passing along what I have learned and my throughts and observation about what I have come to understand. I definitely can be wrong on some of what I have to say. That is why I rely on others like yourself to speak up. So I am sure there is much yet for me to learn about the markets and its operators. All I have been doing is to read allot and pick up what "crumbs" I can from generous people who are willing to spend their time to talk about market operations and their experiences trading in the markets, along with learning form my own experiences in the market. The contributions others make in my learning progress is what makes SI so valuable to me. So I encourage others here to provide their own observations, feedback, and even challenges in this shared interest of learning about the markets. Bob Graham PS: I am sure Richard Estes will respond to my comments about Elder's book. ;)