Discussion in 'Order Execution' started by wercurna, Nov 18, 2003.
He's probably checking out the cool stuff at Comdex!
Wow I like 50 Cent response. Great sense of humor!!!!!
isn't he at the Las Vegas Expo for traders?
We have known about the possible response from the SEC for quite a while, and our traders will be given alternatives by the time the bullets stop.
One door closes, others open... not really a big deal in any event since we have 300 or so stocks coming down the pike with no uptick rule anyway.
I'll be posting more after my traders are taken care of...hang in there everyone...
Isn't this where you come in?
Yeah, this is another great opportunity for seisan to do some major ass kissing and firm hyping for Bright.
Well, we're waiting......
The Sec has put the final nail in the coffin for many an equity day trading firm with the elimination of bullets and conversions. Yes, you will have 300 or so stocks coming on board which wont have the uptick rule,but then everyone will be trading the same liquid stocks.Any strategy for dealing with on the short side is done..
Go trade futures. They are a different trade then the equities,but a cleaner,fairer trade. Better tax treatment also... no specialist games,no worries as to which ECN to run to. Bigger minimal tick..You will need to turn over a trade more quickly.and you will need to learn more about the technicals to trade.
Go to a place where they will teach you the technicals, market profile. Refco does a good job with their trading services division.
OK, not to get involved in a silly argument, but "what the hell are you talking about?" Refco is great....we have close ties to them.
We spoke directly with the SEC and have our alternatives already in motion, and like I said, it's not big deal.
After our traders are secure with their new tools, I'll post a blurb for the masses.
And as far as "ass kissing hype"....gee, I didn't even know that my friends at Refco needed their asses kissed...but I'll be sure to let them know.
No offense but I dont see any problem for firms like Bright etc. Those that have been profitable with good management will simply modify their approach on these types of plays. There are many, many profitable strategies available to trade. Losing these is not a big deal and it has been in the works for some time so everybody has had time to replace these strategies with alternatives.
Strategies for dealing with the short side prevail and are numerous: I have no idea what you are talking about. There is no need to switch to futures - although we trade both equities and futures. Your comments on Technicals being more important for Futures than equities is just plain wrong. I know more than one discretionary futures trader making excellent money - they have been for years- and they rely very little on formal technical analysis.
You have it right....I have to smile to think that some people would think that the Firm's would not be prepared for these things. As in any business, things change...we were caught a little offguard (thinking January, not November)...but we're fine.
Not even a reason to "spin" any of this, just "no big deal."
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