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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Mark Oliver who wrote (6124)	4/23/1999 12:58:00 PM
From: Frodo Baxter	Read Replies (1) \| Respond to of 9256

>How often have you seen the big traders take the greatest profits or avoid the greatest losses while you stood by helpless and watched? Gee, that's strange, cuz I always thought there was two sides to every transaction.

To: Mark Oliver who wrote (6124)	4/23/1999 1:20:00 PM
From: Sam	Respond to of 9256

Mark, "Is it possible that longer trading hours would remove some of those advantages that institutions have over the individual?" I can't see how, they will still have their advantages, and perhaps have even more power to move the market in any given stock during slack trading hours, if they so choose, as it will take less money to move it in whatever direction they choose. My first reaction is that it is a recipe for more confusion, but I haven't really thought through the implications. I spend a lot of time in front of a terminal now during trading hours, not sure how that would be affected by extended hours. It just might end up reducing the amount of time I spend here. Which might well be for the good. "Also, what is this strange business of reporting bad news after the markets closed? To who's advantage is it?" In theory, at least, it's to the advantage of the reporting company, gives them a chance to spin the news outside of trading hours.

To: Mark Oliver who wrote (6124)	4/24/1999 7:10:00 PM
From: Mark Adams	Respond to of 9256

Certainly if the New York Stock Exchange wants to be a world exchange, they've got to take on world hours. I like it, but 7x24 suits itself more to electronic exchange than a bunch of sweaty guys crowded around a pit. After all, we humans need breaks from time to time to regain our composure and mental balance. Also, what is this strange business of reporting bad news after the markets closed? The best explanation I've heard is that companies have a responsibility to ensure material news is publically and widely distributed. Same reason for trading halts on news released during the session. To who's advantage is it? The little guy in theory, or Joe Six Pack, who doesn't have all day to sit in front of a news screen to trade on significant news. Releasing after the market close does give the company a chance to spin it, via conference call. But also gives everyone a chance to make their bets before that great casino opens. Is it possible that longer trading hours would remove some of those advantages that institutions have over the individual? What will happen to Market on Close orders? The mutual funds will have to adopt new procedures when indexes change. What will happen to market open imbalances? Don't you see, you'll dry up much of what CNBC presents? They'll have to move into more substantive stories. Besides, if the company truly is of interest to global investors, why wouldn't it be traded on foreign exchanges, much like the ADR's are here in the states? Should we deprive these foriegn lands their rightfull commissions? <grin>