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20 cents on 30k shares seems reasonable to me. I wouldn't sell 30k wmt Don't have the capital nor the risk tolerance if I was wrong. The specialist is RISKING his capital in a trade like that. But I stop because I know I will never convince anyone to stop blaming the specialist, the MM's...

If your definition of a fair and orderly market is honoring quotes, then all a specialist would have to do is make a wide market for 5 up and honer them. That's not fair. I have been asking SLK for a mulligan button. I think a trader should get one mulligan per day. Sort of an Oops button.

You CAN play specialist by placing scale orders so that he has no incentive to jump in front of one order. You can scale a 5000 lot by 500 shares every 3 cents for 30 cents.

In the OTC market you can preference an ECN and go around prices that are better for whatever reason you might have to do that. Even with Supermontage that is the case with lots over 10k I believe. Charles, I think in the extremes and in between. What is a fair and orderly market? You...

How would you characterize a fair and orderly market? One in which the specialist doesn't make money? Or one in which you don't lose? Why would you panic and cover a short just because some idiot bids for 100k? Stocks usually trade to size. remember that old maxim? Second if the stock has...

Does Lions clear Spear or someone else? Do they take real customer SIPC accounts?

Don, Are you happy with the new management at SLK? What does Bob Kantor say about leaving SLK after 30 some years? What did you think about ICS clearing when you spoke to them?

Sorry for the delay in responding. Working for a living here trading. I know of no one making money being wrong. So yes, simply being right is the answer. Yes I know people who are making money by being liquidity providers. My wife sleeps with one. (insert your own joke here) Think about...

A great impassioned plea on behalf of Schoni. I heard he wrote a personal check this year for over 50 million to take out his partners at their cost so as not to have anyone take any losses. A standup guy. However, your point about the cleanest firm out there is offbase. Schoni had a big...

Don, When I said that Bright was with FOC since 1978 I meant FOC/SLK a forward thinking, risk taking entrepreneurial type of firm as differentiated from GS a firm that does not want its name tarnished with day traders, that only wants to collect commissions without dirtying itself. I did not...

With all due respect, you have been with First Options since 1978. They themselves were brought and sold. In fact SLK took them back after the crash at a credit or so the rumour goes. You have been with GOLDMAN SACHS for a few months now. If you think SLK is the same as it was last year or...

The merger will go through. If they let REDI and ARCA merge why not INCA and ISLD? The rates posted earlier are for TAKING liquidity. You get paid for adding it. Adding it is cheaper on the rate as well as that you save at least a cent getting in and out. Be on the MM side and buy on bid...

Seems as if they are another firm saddled with the Goldman/SLK cost structure. Ultimately, that will be a problem as they try to compete.

Check ETG, they used to

Onje word for you...Depends. Great product. Pee all over yourself without getting up. Great for bar hopping unless you meet someone then embarassing is the word. Babak, My son is a NJ Nets fan. Is the plural of Nets, Netses? The Leafs haven't been my rooting interest since Tim...

Wow, all this grammar/grammatical stuff... Sorry I left the only firm I could not misspell...ETG. At least I trade on my own now so spelling my own name is only as hard as looking at the nametag my mom still sews in my underwear.

I agree with your post 100%. Day trading will be here until they outlaw it. Some have the talent to survive the less opportunistic times and some will fade away.... Some are waiting for better times not realizing that these are good times. They keep on focusing on what was not what is...

Yes, there was no uptick rule, no there were no pennies, etc. during Jesse L's time, but he wasn't scalping. He gave that up in the bucket shops. He was a diretional trader, a speculator, more interested in the overall trend. He would be unconcerned about pennies, knowing the stock would...

Mark my words...Schoni is not dead. He is reorganizing his business around profitable traders. 3 years from now he will still be in business while most of the firms on this board will not. Gross trading means little if you can't overcome whatever your commissions are. Traders were profitable...

Get well soon Don! We'd hate to have you stop at 1511.