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

To: Dale Baker who wrote (2590)	2/14/1998 9:08:00 AM
From: steve goldman	Read Replies (1) \| Respond to of 4969

Chat Site Reminder Listed & OTC Market Discussion - Execution Systems, etc. I strongly encourage you to join us for our Special Chat Session, this Monday, Feb 16th, at 6pm est. Several guest speakers will be discussing Listed Exchanges vs. the Over-The-Counter (OTC) Markets, the various execution systems, including SOES, SelectNet, Superdot, RAES, as well as the advantages and disadvantages of various trading strategies for each. Baron Robertson from Elitetrader will be joining several professional firm traders as well as an expected Specialist from the American Stock Exchange. It should be a great learning experience. This Monday, Feb. 16th, 6pm., est. yamner.com Joining the site requires a simple, free registration process which should be done ahead of time to ensure you don't have any problems. Please visit yamner.com Your password to enter is emailed to you which is sent immediately from our mail servers, but if your mail server (AOL especially) takes slighly longer to process and deliver it to you, please register well in advance. Hope to see you! Have a great weekend! Steve@yamner.com yamner.com

To: Dale Baker who wrote (2590)	2/14/1998 9:16:00 AM
From: steve goldman	Respond to of 4969

TMBS...most like a larger insitution or a firm representing an insider had some stock for sale. He "shopped" it around, trying to find someone who might take the stock. Perhaps some mutualfund with a few million bucks to get working figured it would be a great way to get a nice piece without moveing the market (afterall, its pretty tough to get a few200k pieces without moving the market on yourself). As well, it could have been three "buys" of 200k each right from the client to client. More likely, the mm "crossed" the trade, found a buyer, did some work hunting around, "shopping" the stock, found someone to buy 200k at 16 1/4, sold it to them at 16 1/4, out of the firm's inventory account, goind short, essentially, then brought in the stock from the client's account, into the firm inventory account (currently short since the firm didnt have it,the client did) to cover the short, at 16, or 16 1/8...some agreed upon markup , an 1/8thor 1/4. Remember Chris, or mm buddy, he was saying he marks everythingup a 1/4 on average. So the firm makes 1/4 point on 200k shares. Not bad... 25 cents per share. Do you think they need the $2000 commission? I think they would rather do the trade for $19.99 for any amount of shares... (my wife told me I have a tendancy to be a real crab apple - maybe she's right...LOL! ) HAPPY VALENTINES DAY to all the Beautiful women who read our thread! Make sure you are well taken care of today! Love...Steve