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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (844)	5/5/1999 7:09:00 PM
From: Joseph F. Hubel	Read Replies (1) \| Respond to of 10027

Freeus, I was just suggesting that had you bought them back during the low, sure you have ST gains on the call, which you would anyway since you got the money when you sold them, but needn't worry about the gains from having the stock called away. Once the price came back as it did today you could have written new calls further out. Then when the shorts have their day, you clean up on the calls and wait for the stock to head back up again to sell them again. I use the Bollinger bands and RSI to predict tops and if it's a stock I think has more room after a consolidation, I sell in the money calls and wait for the shorts to reduce the premium. It's nice safe money. JFH

To: freeus who wrote (844)	5/5/1999 7:14:00 PM
From: 1-DAY-TRADER	Read Replies (2) \| Respond to of 10027

freeus man ..why didn't you take the profit and run ?? I dont get you man ... i hope you learn this time :)) Are you still waiting for the $200 ?? or $300 ?? after the split :))

To: freeus who wrote (844)	5/5/1999 8:10:00 PM
From: Jenne	Respond to of 10027

Instinet Wants to Offer Trading for Small Investors (Update2) By Philip Boroff Instinet Wants to Offer Trading for Small Investors (Update2) (Adds additional comments from Instinet chief executive in 6th and 7th paragraphs and from the competition in 8th.) New York, May 5 (Bloomberg) -- Instinet Corp., which has gained a following among institutional investors by letting them trade directly with each other electronically and anonymously, wants to move into the retail market. The Reuters Group Plc subsidiary says it's in discussions with online brokers and other securities firms to make its electronic securities trading system available to individuals, during the regular trading session and after hours. ''It's not if Instinet will be in retail, but how we're going to do it,'' Instinet Chief Executive Doug Atkin said in a conference call. Atkin said Instinet has an ''aggressive target'' of offering the new service in 1999. He said Instinet will give individual investors the chance to place orders in about 40 stock markets around the world. Institutions such as mutual funds and pension funds already use Instinet, partly to trade in the early morning and in the evening after corporations have released market-moving news. Instinet, the largest electronic communications network, or ECN, says it accounts for 20 percent of Nasdaq volume. An Instinet-aligned broker will likely charge higher commissions than current online brokers, but offer better prices, Atkin said. Discount brokerages usually send their orders to market makers they own or to trading firms that pay fees known as ''payment for order flow'' he said. In either case, they may not offer the best prices. ''The payment for order for order flow mechanism doesn't pass the smell test. You get what you pay for.'' Ken Pasternak, chief executive of Knight/Trimark Group Inc., the largest market maker in Nasdaq securities, questioned Atkin's position. ''What basis does he makes that statement?'' he said. ''Let him show me some data before he's going to shoot his mouth off.'' Island Instinet has discussed alliances with about 20 brokerages and securities firms, and narrowed down negotiations with about five, Atkin said. Island ECN Inc., the second-largest electronic trading network, primarily matches orders by individual investors, and doesn't feel threatened by Instinet's plans, an Island executive said. Edward Nicoll, president of Datek Online Holdings Corp., which owns Island, said Instinet may have trouble securing a critical mass of individual investors and offering competitive prices to them. ''We already have access to tremendous volume from individual customers,'' Nicoll said. ''Instinet has a different network of buyers and sellers, with different motivations than individual investors.'' Institutions typically prefer to trade anonymously to protect their trading strategies, while individuals want their orders widely disseminated in an attempt to get the best possible price, Nicoll said. In planning after-hours trading for individuals, Instinet enters what may be a crowded market. Nasdaq said it may offer trading from 6 p.m. to 10 p.m. as early as this summer. NYSE Chairman Richard Grasso has told exchange members that if Nasdaq extends hours, the Big Board will react. Eclipse Trading Inc. said today Nasdaq market-maker Herzog Heine Geduld and online brokerage firm Dreyfus Brokerage Services agreed to join the after-hours stock trading system Eclipse plans to start by the end of summer. Eclipse now has signed up two online brokers and two market- making firms for the system. Eclipse plans to sign up more brokers and market makers before the new electronic market begins operations. Wit Capital Corp., an online investment bank, plans a similar after-hours system. Bloomberg News, Bloomberg Financial Markets, Bloomberg Television and Bloomberg Tradebook compete with Reuters in providing news, information and trading systems to the financial community. ©1999 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks.