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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: funk who wrote (2716)	12/16/1998 9:07:00 AM
From: funk	Respond to of 7382

What a joke. I wish i snapped a screen shot yesterday. No less than Twenty Arca bids for SEEK. And a nice fat ISLD offer only an 1/8 away. I was a millisecond too slow so I had to grab the next ISLD offer that was still only 3/16 away from all the ARCA bids. Sure enough, I got a fine trade out of the deal. 3/16 is Jack on a stock swinging two and three points back and forth all day. So all these ARCAs left behind, what are they doing, crying about Jerry Putnam? Crying about the evil MM's? Going out of business? We have to be flexible and nimble. I am still working on nimble. OK when arca really kicks ass .... Last week I traded like a dope for two days, still had an up week, but still I was out of sorts and I got in some POS with too big a position and it sunk on me. I knew the trade was a stinker and the more time I spent in it the more I was going to lose. The bid was @ 1/16 one or two MM's showing little crappy sizes. At the round number there was a lot more liquidity, experience was telling me it was going to dry up soon though. ARCA ! ! ! I crossed with the even number actually going below the 1/16 MM's. Result: I cleared out the 1/16's and wiped out most of the round number bids. I was out and looking for greener pastures and that Name just continued its downward spiral all day. "SEE YA Wouldn't want to be ya" ARCA is great, when used with a little bit of common sense. I use ISLD ten times more often. No MM games with ISLD orders. That is precisely why the NASD is going to funk it all up and let MM's display two sets of quotes for each stock. They don't want ISLD to keep growing. Good luck today, everyone. Funk N. Stein