Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (26040)	4/1/1999 12:17:00 AM
From: Jay Fisk	Respond to of 122087

Easy reading department OR "Learn Trader-Speak" Vol 1: A taped conversation uncovered in the investigation is illustrative. At the time, the firm that employed Traders 1 and 3 was quoting 28 1/2 offered for the stock in question: Trader 1: Hi guy. Trader 2: Hey, tell him I'm paying 1/2 for 25,000 [name of stock] if he wants to make a print. Trader 1: I'm sorry. What do you got? Trader 2: One-half for 25,000 [name of stock] if he wants to make a print. [Pause while Trader 3 gets on the line.] Trader 3: What are you looking for? Trader 2: Twenty-five. Trader 3: Are you [expletive deleted] kidding me? Trader 2: No. No. I got . . . Listen. Listen, don't sell me anything. Move up. Trader 3: I just [expletive deleted] plugged about six guys. Trader 2: Did you? Trader 3: Oh, my god. Trader 2: Get up. Get up so I can make a higher sale at least, all right? Trader 3: Sure. In this scenario, Trader 2 refrained from insisting that Trader 3 honor his quoted ask price, but instead requested that he move his firm's quotes up. Trader 3 moved his firm's quotes up, as requested. This was intended to facilitate sales by Trader 2 at higher prices. In this instance, the actual benefit realized by Trader 2 from the quote move is unclear, and the scenario was, for the purposes of this proceeding, treated as a violation of Rule 15c2-7 and not the antifraud rules. Lots more dialog at this link near the end: sec.gov J