NYSE Specialist - Stay or Go - vote here

[jimrockford]

Quote from RedManPlus:

He seems to know a lot of general stuff about the NYSE, etc...

RedManPlus,

If you read the thread entitled "Observations on the NYSE Specialist", you will see Hamlet adamantly insisting upon many statements as to how NYSE trading rules and procedures actually function, until I proved that he was completely wrong on those various points. My sense is that Hamlet actually knows very, very little about NYSE trading, and that most of what he thinks he knows isn't even true.

 

[Bitstream]

for da last time:

the spec way of handlin' orders do not, i repeat, do not easily accommodate bolts that need exceptionally fast executions and that are usually programmed to fade rallies, skim for pennies and so create a choppy environment. therefore nyse issues are bound to trend more and remain fluid, so to offer savy traders da opportunity to jump in, most of da time on the open and/or at da first signs of momentum, ride da trade 'till session end and very often exit at highs.

edit; it is not da corruption of da spec, is da way he operates and although i can profit form any mkt certalinly i profit even more from nyse 'cause of trends, i thought this was the premise of this thread.

 

[Hamlet]

Quote from jimrockford:

RedManPlus,

If you read the thread entitled "Observations on the NYSE Specialist", you will see Hamlet adamantly insisting upon many statements as to how NYSE trading rules and procedures actually function, until I proved that he was completely wrong on those various points. My sense is that Hamlet actually knows very, very little about NYSE trading, and that most of what he thinks he knows isn't even true.

Anyone referring to the thread you cite will see how in the end your credibility was seriously diminished, and that my statements were not wrong. If you want to discuss that thread please do so in that thread. You constantly refer to that thread here. That, and your statement above is clearly off topic. Attacking me is certainly not on topic.

Should the specialist stay or go? Why? How is trading in stocks with one dealer a benefit or detriment to your profitability? What do the poll results show?

That is the thread topic, please stick to it.

 

[Hamlet]

Quote from RedManPlus:

See how easy it is to fool the crowd here?
A place where 15% claim to be making $300,000... and no one even comments.

rm+

This goes to what I said in my opening comments on the thread.

 

[jimrockford]

Quote from Hamlet:

Anyone referring to the thread you cite will see how in the end your credibility was seriously diminished, and that my statements were not wrong.

No, you are wrong, they will see exactly the opposite of what you claim. They will see that your statements about NYSE procedures were wrong, and that your credibility was demolished. They will also see that a former specialist posted into that thread, and confirmed that you were wrong, and I was right, about the various NYSE trading procedures we discussed.

 

[jimrockford]

Quote from Hamlet:

Should the specialist stay or go? Why? How is trading in stocks with one dealer a benefit or detriment to your profitability? What do the poll results show?

That is the thread topic, please stick to it.

The poll results have no validity. One reason is that your wording of the various permitted responses reflected your personal bias. Professional poll designers know that in order to be valid, a poll must be worded so as to not bias the results. It takes a certain level of maturity to leave one's own personal bias aside when designing a survey instrument. Some people can't do this. Plus we still have a well-documented problem of EliteTrader members who secretly make hundreds of posts under multiple aliases, so that they have opportunity to vote multiple times in the same poll. Plus this thread and the other thread, entitled "Observations on the NYSE Specialist", demonstrated that many EliteTRader members have great difficulty with making statements honestly and accurately. If they can't tell the truth in their own postings, why would they give truthful responses to a poll?

 

[Hamlet]

Quote from jimrockford:

No, you are wrong, they will see exactly the opposite of what you claim. They will see that your statements about NYSE procedures were wrong, and that your credibility was demolished. They will also see that a former specialist posted into that thread, and confirmed that you were wrong, and I was right, about the various NYSE trading procedures we discussed.

I am asking you once again and appealing to the moderator at this point - if you wish to comment on discussions which took place in another thread, do so in that thread where I will happily and handily debunk all of your false allegations above.

This thread is in the trading category and i wish it to remain so. Please keep this thread on topic. On topic does not mean attacking me, discussing subject matter from other threads, or things such as widespread white collar crime. The topic is about the pros and cons of trading in stocks that have one dealer - the specialist.

Should the spec stay or go?
Why?
How does it help or hinder your trading to have one dealer in a stock?

 

[Hamlet]

Quote from jimrockford:

The poll results have no validity. One reason is that your wording of the various permitted responses reflected your personal bias.

Where is the bias and how are you supposing it is affecting the results?

Any poll on ET is subject to a few voting more than once, if they have nothing better to do with their time. I'd like to think that 99% of the participants here do. This would not skew the results much at all and most likely if it even occurred to a tiny extent it would be balanced on both sides. These polls results are not even presently close enough to consider them being skewed in this fashion and reversing sentiment.

It seems that since you do not like what the poll results show, you attack the poll and the pollster.

More of the same - classic and pitiful losing side tactics of defense.

 

[jimrockford]

Quote from Hamlet:

It seems that since you do not like what the poll results show, you attack the poll and the pollster.

More of the same - classic and pitiful losing side tactics of defense.

No, you are wrong. This is another example of your inability to describe the viewpoints of other people, truthfully and accurately. The truth is that I don't know what the results show, and I don't care. I neither like the results, nor dislike them. I am utterly indifferent to them. It isn't even worth my time to check on them, but maybe I will, at some point.

You continue to attack me personally in this thread, yet you repeatedly state that personal attacks are off-topic in this thread. Isn't that hypocritical?

I am sure that nobody wants to read the kind of posting you just made, or even my response to it, but you created the need, once again, for me to go on record that your public description of my statements and viewpoint is false and untrue. I think the thread would be better served if you could confine yourself to describing your own opinion, and leave me to state my own opinion. You should not attempt to describe my opinion. I told you this very many times in the previous thread on NYSE specialists.

I also think your statements about what is on-topic and off-topic are hypocritical and dishonest. It was you who brought up the idea of comparing specialist crime to other types of white collar crime. I gave a pretty convincing argument that you didn't know what were you talking about, and only then did you proclaim that white-collar crime is off-topic. I think that you are making up the rules as you go along, in an effort to suppress information which is relevant to your topic, but which proves that you are wrong, or which embarasses you.

I also don't see how you can exclude, as off-topic, references to the thread "Observations on the NYSE Specialist", because it is directly relevant to the topic of this thread, and it also disproves your claim that your viewpoint is superior, because you are experienced and astute, and those who disagree with you are foolhardy (see your first posting in this thread).

How about making a rule that only postings in agreement with you are on-topic, and disagreements are off-topic? I don't know if anybody would contribute to such a thread, let alone read it. But that is the direction in which you are heading!

 

[Hamlet]

Quote from jimrockford:

The poll results have no validity. One reason is that your wording of the various permitted responses reflected your personal bias.

More of the same. Here it is in your words, not mine. That is your viewpoint. I asked you where is the bias and how is it affecting results making them invalid. You claim to not know the results but just claim that they are invalid. You you cannot support your claims and so go on the attack again.

More classic pitiful losing side tactics.