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

To: Steve Greenberg who wrote (3367)	7/11/1998 4:36:00 PM
From: steve goldman	Read Replies (1) \| Respond to of 4969

Steve Greenberg, Thanks for the post: 1. Snet broadcast - it is routed to all mm that make markets in the paricular stock. It is anonymous until executed. A line will show up on the mm's workstation (unless they have customized it) that flashing the bid/offer, qty, qualifiers, etc. They can click on it to execute. As more offers/bids from that stock or which ever stocks the particular mm's trader cover, it may scroll off the screen. a personal little tip...when I broadcast SNET into the general market and the stock is active or perhaps is a less active stock where firm traders might handle 4,5,6 stocks at a time, I will cancel it and refresh it every 20, 30 seconds so it isnt out of sight, out of mind. 2. Preference...i believe they see from who it comes, but flashing or beeping, totally worstation specific, but yes it is available. The Nasdaq Workstations we use here in our offices are exactly the same as any other Nasdaq member firm, yet we dont use the mm functions since we act as agency only in stocks. If you call the NASDAQ maybe you can finagle a nasdaq workstation manual out of them so you know what the mm's are dealing with. 2. Short interest on nasdaq- once a month they publish short interst in major papers, DJ's WSJ, barrons...check their website.they might have last data posted. The new system...to be quite honest, I have not really kept up on the new system...why? its totally irrelevant to me until they start rolling it out. I guess I could for the sake of this thread and I should, but they keep changing it, its still subject to final approval, final specs, etc., and since i'm not a theory man, nor in any position to change policy or the system, i have better things to do with my time. As a professional, whatever the system is, i'll adapt. But as soon as they have more definates, I would be glad to present...I will visit the NASDA's site and try to start getting up to speed since we are getting 'close'. Lastly, thanks for the kind words. I enjoy communicating with investors up here. Like most up here, I thoroughly love the markets, the dynamic nature of Wall Street and being a tech weenie, this media is terrific. Some occassionally take issue because I am with Yamner, often present Yamner favorably (which I think we deserve), but taken in total, have hopefully maintained the focus that this thread was intended to provide. Regards, Steve@yamner.com