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You're pretty close. You should send IRS a letter in 2007 if you want to qualify for MtoM in 2007. Below is a form letter that can be helpful to you. Internal Revenue Service Fresno, CA 93888 April 12, 2003 Attachment to 2002 Form 1040 Dear Sir or Madam: In Accordance with...

http://www.irs.gov/publications/p550/ix01.html This link contains everything you need to know.

Trader status by itself offers no benefits. It does not reduce your taxes by itself. By electing MtoM your gains and losses are treated as ordinary gains and losses and taxed as such. Otherwise, you will be subject to capital gains and losses and the accompanying limitations.

You can file for trader status within the time period allowed. However, it is for the IRS to decide if you qualify for trader status based on several criteria. For example - Number of trades per year, if trading is your source of livelihood etc. However, trader status by itself is not...

correction: replace dissemiated with disseminated.

I also think our holdings at clearing houses are scrutinized ,summarized and regularly dissemiated to Specialists and MMs courtesy the long arm of bribery and corruption.

I remember that day very well. Feb 1 2007. In afterhours trading on Jan31, 2007 the stock was down 1.4%. In pre-market on Feb 1, it was trading up 1% around 506.52. It kept gradually going up and reached 525 about a minute before the regular open and then started heading south at a frenzied pace...

You bought more at 540? You've bought at a price that google has never reached yet?

"Moreover, it found that specialists routinely discriminated against orders from brokerage firms that catered to day traders." This phrase says it all. However it should have been worded as follows "specialists and Nasdaq MarketMakers routinely........."

The only way you can verify speed and accuracy of level2 is by comparing ameritrade's level2 platform with another direct access broker's platform in real time. You may also want to check whether Ameritrade incorporates Inet and Arca open books in their level2. If active trading is a longer...

The above is true only if your margin equity as a percentage of total market value is 40% and above. If your margin equity falls below 40% as a result of your withdrawing funds, then the brokerage will not allow withdrawal of funds. Therefore, you can withdraw funds if after the withdrawal your...

This situation applies in a few scenarios: 1. If you want ro re-invest your money with another brokerage, you will have to wait T+3 before you can have your funds transferred to another brokerage. 2. If you want to switch your trading account to another brokerage, then again you have to wait...

Classic denial syndrome.

60 minutes did a piece on him which was quite informative.

It is not a question of tipping his hand.. If I place a 1000 share order through UBSS, i can see my 1000 shares under UBSS at the inside bid.

Excellent article. If you're long you should be shall we say a wee bit concerned? It will also be interesting to see how investors will treat their increase in administrative expenses due to legal and other costs incurred in connection with their voluntary internal review undertaken by the...

I have to disagree. Look for UBSS. He is the marketmaker for Cybertrader. He is extremely active on all Nasdaq stocks. Of course anybody closely watching will know about the others. I don't deny black pools and boxes. But those are all done through ECNS. However, Check out the statistics and...

There was a huge run up before earnings. The stock is at all time highs. Their earnings were ok but not as convincing as they usually are. The numbers: Research In Motion reports Q4 results; guides EPS in-line for Q1, revs above consensus; Reports Q4 (Feb) earnings of $0.99 per share...

I'm just curious. I don't have an account with IB. TMBR used to be really active on most nasdaq stocks. They are no longer so. Have you changed your marketmaker for Nasdaq stocks. If so, who? I brought this up in another thread and somebody mentioned 'Ideal'. But I don't see them making a market...

You can throw all this shit out the window