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To: posthumousone who wrote (703)	2/4/1998 6:14:00 AM
From: Arthur Tang	Respond to of 1471

Thank you, Gary. Nasdaq is changing their rules to be more streamlined. I do not keep up with those rules. Nasdaq has three system, NMS, small caps, and OTC-BB. If they want to fit the company somewhere, they can do it. The market makers are still the same ones. Less than 600 market makers, unless you want to include all the trading desks. SEC is also changing their rules, And I do not keep up with them. The reason is SEC do not understand the supply and demand of the market. Then they do not understand the computer system and its software. Computer system is still being changed; software is all different at different brokers; market is also changing but it is still dealing with market makers (Island system) and not individual to individuals. In a small way, SEC can satisfy the small ignorant investors with the new rules; but the thin markets is basically market making. No market making, there will be no trading, especially with only a few customers. SEC can only regulate the criminal market makers, but not changing the way stock market business is done. Having said that, we took the trouble to discuss the process of market making. If you can get information on the process, then you will take advantage of the market. Never get insiders' information, though; you go to jail and forfeit all profits by law.