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Non-Tech
Meet Gene, a NASDAQ Market Maker
An SI Board Since July 2000
Posts SubjectMarks Bans
1426 161 0
Emcee:  DizzyG Type:  Unmoderated
Introduction Compact
Gene's profile:
Member 8434096

Gene's Welcome Message:
Message 14106501

WELCOME EVERYONE...

I sure hope that I can live up to all of your expectations. Yes, I am a NASDAQ market maker and I make markets in mostly high-flying tech stocks, and a few small-caps. I run a small trading operation in New York City and I have been in the market making business for about 7 years now.

My experience is vast and I have worked at the entire gamut of firms. I know how and what motivates the big firms and I know how the small firms survive.

I also like to consider myself a trader first and a market maker second. I have read about 70 books on trading, mainly regarding day trading, as I personally feel that MM's who do not learn to trade as the day traders do will not survive in the ever-changing NASDAQ market. That being said, I am 100% for day trading and I believe that they keep MM's honest. I say, the more competition over order flow the better. Too much power in any area will breed corruption IMHO. That being said, if you are one of the brain-washed 'conspiracy theorists' then you had definitely back up your accusations with some proof. You should all know that one of my original motivations for posting on Raging Bull was to try to eliminate the ignorance I saw by many newbie investors. As a trader, it if FIRST and FOREMOST your own responsibility to be accountable for YOUR OWN actions. I have, and will continue to be very critical of other viewpoints if they are simply masked 'finger-pointing' and not legitimate complaints that they want to voice.

I apologize in advance if I sound obnoxious or harsh in any way. I simply want readers to understand how I feel about these subjects. Now, you can feel free to ask me about ANYTHING you want and I will answer you with as much candor and honesty that I can. However, because of the ridiculous amount of frivolous lawsuits and gold-digging lawyers I see suing posters all over the internet I will refrain from making any personal recommendations in stocks that I, or my firm, makes markets in. However, if you are asking MY opinion about something than I will try to answer (about how I feel about a stock, etc.).

I am looking forward to an intelligent discussion about anything and everything regarding market making, the NASDAQ markets and trading strategies.

I wish all of you enjoyment in reading this thread (please suggest a better title and category...I am new to SI).

Gene's Ground Rules and Disclaimer:
Message 14122681

Let me fill you in on some ground rules though. I put a call into the NASD's market regulation department based on some posters comments. They brought up some good points as to what a registered representative (all MM's are registered reps - aka Series 7, Series 63 and some with Series 24) can and cannot talk about in a public forum.

Therefore, for one, I have been told that talking about specific securities and even my opinions might be considered a 'grey area'. Anything GREY, I won't venture into. Another area they mentioned that was no-no was talking about specific firms and their particular styles and tactics. With that in mind I will from this point forward avoid any questions along those lines.

Please keep your questions abiding by these guidelines and not about specific stocks any more. I have talked with several people and speaking about market specifics, trading tactics (general), and laws and rules are all OK provided that I preface what I know with it being only MY OPINION.

I will again state my DISCLAIMER that I do not know all the answers, and that anything I do post here should never be taken as the FINAL WORD. OK? Everyone clear? It means you should STILL do your own research on aspects of market regulation and compliance.

NOTE: If you are wanting answers from Gene, please direct your questions to gene_the_mm not to me.

Enjoy...
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ReplyMessage PreviewFromRecsPosted
1426Rumor has it, he's still sorting out the PM trades... Message 17550579 lol. Savant-2/5/2004
1425Then it shouldn't be long before he's back, right? ALSO JOKETom C-2/5/2004
1424Wasn't he promoted to the big board????? JOKEtelephonics-2/5/2004
1423Been nearly 2 years since we have heard from Gene. Is he still a market maker ?rjm2-2/5/2004
1422NASD finally does something right: marketwatch.com Quite a change in attitudRaymond Duray-6/3/2002
1421Nite, Nite..now maybe we'll find out what MMs really do. Reuters Finance NeSavant-6/3/2002
1420So, how can major owners of the SEC much much worse than useless garbage get awBaldur Fjvlnisson-4/8/2002
1419The numbers underscore just how bleak is the IPO market By Beth Healy, 4/8/2002Baldur Fjvlnisson-4/8/2002
1418Yes Savant and now this mess will go on paying the price. For three years I haBaldur Fjvlnisson-4/8/2002
1417Baldur, the SEC scam started when Kennedy was installed. The 'tenor' ofSavant-4/8/2002
1416xcr, the main scam was perpetrated BEFORE 2001. In that year the crime cabal waBaldur Fjvlnisson-4/8/2002
1415Don't be shocked. You ain't seen nothing yet. I believe that one day Baldur Fjvlnisson-4/8/2002
1414What a joke of a story to pin it all on Clinton..xcr600-4/7/2002
1413If anyone is interested in NYSE specialist tactics, there's an interesting dRCMac-4/7/2002
1412Kerry, Thanks for your answer. Your explanation of a pre-arranged block trade Doc Bones-4/6/2002
1411I'm shocked. Absolutely shocked.10K a day-4/6/2002
1410Try this: While this was going on Officer Friendly was chasing kids pushing penBaldur Fjvlnisson-4/6/2002
1409Don't worry; that's only the tip of the iceberg as those bozos are concBaldur Fjvlnisson-4/6/2002
1408LPS5, I agree to the extent that I'm not comfortable commenting on the wisdEL KABONG!!!-4/5/2002
1407Kerry, I wouldn't comment on the issue itself, but with regard to your analLPS5-4/5/2002
1406That's a beautiful story.10K a day-4/5/2002
1405***Jafb, all one needed to see yesterday (it should have been mandatory that CNBBaldur Fjvlnisson-4/5/2002
1404SEC: Corrupt or Merely Incompetent? Commentary. Michael Lewis, the author of `Baldur Fjvlnisson-4/5/2002
1403Holdings of Analysts Just a Sideshow Commentary. Michael Lewis, the author of `Baldur Fjvlnisson-4/5/2002
1402'I got so mad reading that complaint' The 94-year-old federal judge whBaldur Fjvlnisson-4/5/2002
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