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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (2494)	3/2/1999 1:27:00 PM
From: Buckey	Read Replies (1) \| Respond to of 4467

Nothing but Nightmares lately with Scotia - 10 minutes waits to get thru - Online being down 0 Screwed up orders. I am in a pissy mood over it all

To: keith massey who wrote (2494)	3/2/1999 11:43:00 PM
From: bigbuk	Read Replies (1) \| Respond to of 4467

keith; Greenline are a bunch of idiots lately. I have several accounts with them. One was a US account i was trying to cleanup today would put in my sell and see it on my RT3 15 mins later. I trade most us with AB watley now, it makes canadian securities dealers look like a REAL JOKE!!!!!! Don't get me wrong, TD has been good over the years, just he last six months have been getting very bad. I hate calling there, most of the reps seem like 17 year olds to me that just don't give a shit. They are updating their system in may or june, but by then unless canadian markets pick up the speed i won't be doing too much trading there. Best regards and trading to all, bigbuk

To: keith massey who wrote (2494)	3/4/1999 1:30:00 AM
From: gypsy	Read Replies (1) \| Respond to of 4467

EXTRA! EXTRA! (Today's Feature Headlines) ***************************************** 24/7 INTERNET TRADING MAY BE HERE BEFORE YOU KNOW IT By John Dawe This week Stock Exchanges and Markets on both sides of the 49th parallel entertained discussions which may ultimately lead to a twenty four hour a day, seven day a week trading regime becoming standard practice in North America. To the south, The Wall Street Journal reported that Instinet, a unit of British electronic information service Reuters Group PLC, has undertaken informal discussions with the National Association of Securities Dealers regarding creation of a system to centralize NASDAQ trading. Instinet currently operates the largest Electronic Communications Network (ECN) in the U.S. and trades approximately 15% of NASDAQ's volume. An ECN is a private trading network that is accessible by institutional traders and is open for business at all hours. Under the arrangement, Instinet would create a “consolidated limit-order book” for NASDAQ which would centralize customer buy and sell orders and process trades within pre-set price ranges. Instinet also revealed this week that it has had discussions with the NYSE aimed at developing a similar venture. Over the last year the NYSE has become increasingly concerned about the competition it is facing from the NASDAQ, which is home to many of the biggest, and highest profile technology and Internet issues. These discussions may be part of musing by the NYSE regarding extended trading hours and follow on the heels of similar overtures which have taken place directly between the Big Board and NASDAQ. Taken as a whole, they appear to indicate the beginning of a major change in direction for traditional trading markets in the U.S. To the north, reports have circulated that the Toronto Stock Exchange would follow any move by the NYSE to extend its trading hours and that the Montreal Exchange may also follow suit. Quoted in the National Post, Paul Bates, President and CEO of online broker Charles Schwab Canada Inc. and a governor of the TSE said, “I can see potentially the creation of virtual 24-hour trading. The issue is, how much of value is it and is there enough potential volume, with the associate fees that go with that volume, that makes it a viable proposition.” However, at present there do not appear to be any tangible plans underway for creation of a full-fledged electronic market to support round the clock trading on the Canadian senior markets. On the other hand however, there is an initiative in play that would see the creation of a national junior exchange under an electronic trading umbrella. This project is aimed at both rationalizing the small cap markets in Canada and creating a more efficient conduit for junior companies to migrate to the Canadian senior markets as they mature. The project is being championed by the Alberta Stock Exchange and Tom Cumming, ASE President and CEO, has reported that it has received initial support from The Toronto Stock Exchange, The Montreal Exchange and the premiere small cap market in Canada, The Vancouver Stock Exchange. Further news is expected regarding the viability of this arrangement as the plan goes forward for approval by the boards of the respective exchanges over the next two months. Although discussions on both sides of the border regarding creation of new cyber trading regimes are in their infancy, it is clear that the established stock exchanges and markets across North America have this on their ‘to do' lists for the near future. 24/7 trading is on its way and the only real question now is ‘how long will it take before it's complete?'. Just as with banking through automated teller machines, it's not hard to imagine that soon we will be startled to look back and remember that a few years ago we had to wait until ‘the market opened' in order to do a trade.

To: keith massey who wrote (2494)	3/4/1999 11:24:00 PM
From: Essam Hamza	Respond to of 4467

Everyone welcome in Stock Contest: Subject 26340 Good Luck, Essam.

To: keith massey who wrote (2494)	3/6/1999 4:54:00 PM
From: keith massey	Read Replies (3) \| Respond to of 4467

For anyone that has ever heard the terms Curbs in or Fair Value on CNBC and not understood what they mean I thought I would post this explaination. Almost every day, CNBC runs a banner on your television screen that says, "Curbs In". And; almost every day, we receive a ton of email from investors asking, "What are curbs?" Here is the answer for you: Program Trading "Collars" A collar on program trading firms instituted by the NYSE is most commonly referred to on CNBC as "Curbs In". The Exchange applies program trading curbs whenever the Dow Jones Industrial Average moves 180 points higher, or 180 points lower than the previous day's closing price. The NYSE restriction on program trades stays in place until the Dow Jones returns to within 90 points of the previous day's closing price; or, until the end of the trading day at 3:00 CT. The restrictions will be re-imposed each time the Dow Jones advances or declines 180 points. NYSE Trading Curbs apply only to our firm's (and other program trading firm's) computer assisted program trades. The NYSE defines a Program Trade as: 1. A basket of 15 or more stocks from the Standard & Poor's 500 Index. 2. A basket of stocks from the Standard & Poor's 500 Index valued at $1 million or more. Once the NYSE program trading collar is in place, Program Selling can be executed only on an up-tick. That means that the last trade was executed at a higher price than the trade before it. Program Buying can be executed only on a down-tick. That means that the last trade was executed at a lower price than the trade before it. What is Fair Value? One of the most frequently asked question from viewers calling into CNBC's morning The Squawk Box has been "What is Fair Value?". Almost every day, CNBC gives viewers the theoretical prices for program trading, listing the Fair Value, along with certain levels in the premium (or spread) that would theoretically cause program buying or program selling to hit the markets. In addition, every time that the NYSE puts collars on computer assisted program trading, CNBC shows a graphic on your television screen that says "Curbs In". So naturally a lot of viewers call in asking about the so called "Fair Value" and wanting to know exactly what it is and what it means. According to Professor Hans Stoll at Vanderbilt University the formula for Fair Value is really very simple. Of course that is easy for him to say, since he is one of the world's leading academic authorities on equities markets, listed options, program trading and a bunch of other stuff about stock markets. Here is Professor Stoll's formula for Fair Value: FV = S [1 + (I - D)] Where "S" is the S&P 500 Index known as , SPY on the Chicago Mercantile Exchange, or SPX on the NYSE and CBOE exchanges. Where "I" is the amount of interest paid to your broker to borrow the money to buy all of the stocks in the S&P 500 Index. The interest is calculated based on a percentage lending rate (R) from the current date (today) until the date that the S&P Futures Contract expires (H, M, U, or Z). Where "D" is the amount of Dividends paid to you from all of the companies that you own in the S&P 500 Index. The dividends are paid to you based on the record dates for each stock in the Index that are announced between the current date (today) and until the date that the S&P Futures Contract expires (H, M, U, or Z). This dividend income is expressed as a percentage rate too. That's it. Wasn't that simple. Fair Value is nothing more than... ...the value of SP500, plus the interest I pay my broker to buy the stocks, minus all of the dividend checks I get. Best Regards KEITH