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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: jhild who wrote (23119)	1/17/1999 12:42:00 PM
From: ColleenB	Read Replies (1) \| Respond to of 43774

I found an interesting article in and older issue of Individual Investor which outlines today's daytraders. I found the entire article interesting but would like to highlight two particular paragraphs. Market makers—the invisible middlemen who post bid and ask prices on Nasdaq stocks—are convinced the sky is falling. But it's not plummeting share prices they're worried about, it's the lightning-fast growth of day-trading firms such as Block Trading and All-Tech, where investors dubbed "SOES bandits" are making thousands of dollars a day by popping in and out of fast-moving stocks. The market makers are upset because the day traders' profits are coming straight out of their pockets. and further... If your wallet is stuffed and your Maalox is handy, the next step is to pass muster with an office manager. In Block's New York office, that's Ralph Daiuto. Daiuto is a wall of a man in an expensive suit. His scrutiny is precise and unforgiving: he wants to make absolutely certain you're going to generate enough $20-a-trade commissions to pay for the training, Level 2 equipment, computer support staff, and office space. There's a move afoot to offer traders remote access so that they can trade from home, but Daiuto and Brenner are against it. "If I were trading in a room by myself all day, I wouldn't make half the money," Brenner says. the entire article can be accessed at... iionline.com