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Re: None

Friday, 02/18/2005 1:27:19 AM

Friday, February 18, 2005 1:27:19 AM

Post# of 270437
Merci, Annie et al, trading MMs

Hey I noticed one or both of you use Etrade. I have been using Ameritrade for a while and am in the process of switching over to MyTrack. What are your opinions about the various brokerage firms?

Also, while searching I found this and thought it might be useful info for whomever.

Penny Stock Market Makers Who Are the Players in this Game by Bill Panetta

Let Me Start off by saying this: Level 2 Does not have the same
effect like it did 5 years ago except for OTCBB Stocks & Pink Sheet
Stocks. What Do I mean By This? NASDAQ is all chart plays, level
2 has no meaning as it once did for NASDAQ Stocks , too many games
can be played now on level 2. Simply put if you don't know how to
read the charts you will get killed on NASDAQ Stocks.

With all the changes on Level 2 Traders have been forced to learn
TA, You could had a made a killing with level 2 before 2001 with out
TA; I have witnesses that have proven this.

And when I make this comment I am talking about regular trading
hours, after hour's different story. Bottom Line Level 2 does not
have the same effect on NASDAQ Stocks that it did 5 years ago
because of the New Super Soes Trading System being implemented in
2001 and along with 1 cent spreads, it was the worst thing NASDAQ
ever did for traders IMO. The Traders from 5 yrs ago know what I am
talking about.

Let's talk about the 2 exchanges where Level 2 has not changed and
having level 2 is really important to your trading. I am talking
about The OTCBB & PINKSHEET Markets.

If you learn how to read into Level 2 on the OTCBB & PINK SHEETS it
will really enhance your trading. Let's break down the Market
Markets.

There are 2 categories of Market Makers let's talking about the
first one.


Retail Market Makers:

These are the market makers from very popular brokerage firms. They
handle a lot of the order flow for small retail investors.


NITE:

SCHB: Schwab

TDCM: TD Water House

SBSH: Smith Barney

MLCO: Merrill Lynch

GRVC: ETRADE


This is the list that you really have master because these are the
MARKET MAKERS that handle promotions, insider transactions also S-8
and CD Transaction.

CD: means Convertible Debentures they are loans the come due and get
sold into the market by the loaning company.


There are lot market makers in this category so I will break it down
to who are the most important: These are some of the more active
MARKET MARKET MAKERS on the street:

FANC: major S- 8 player: if there is an S- 8 on a Stock most likely
he will be there on the ask until it dries up

HDSN: major CD Seller Handles a lot CD transactions. formerly was
WIEN.

VIEW

DOMS

GNLN: one of favorites: smart money more like a trader than market
maker

VERT

CLYP: heavy seller if you see him on the bid it's unusual

BMIC

FLCR: been very active lately especially on LENF and UGHO

SACM: heavy seller spends alot time on the ask, well known daily
shorter, also

HILL: very weak smoke screen for NITE

VFIN

AYME

CRWN a pure trader

STCS

PUGS: new player this year, has been around and dormant until 04

PBLC

VFIN

PERT

MRLN: one of my favorites more like trader

BKST

BNCH

BAMM

AGIS works very closely with SCHB, sometimes shorts


ECN MARKET MAKERS

GNET: owned by ARCA: very active used by traders market makers any
one can use GNET you have to know what your are doing. If you have
access to ACRA trading system you can use gnet

TRAC: owned by MYTRACK if you trade with my track you can use this to place your trade as a liquidity outlet same for data and can route to gnet as well.

DATA: owned by mytrack same concept as GNET & TRAC

http://www.alphatrade.com/E_Gate/tails/java/classes/resources/level2/marketMakerIDs/a.html

There are probably a few market makers that I left out or there will
a few new market makers that show but for the most part these are
the major players. Good luck hopes this helps.


Bill

"Trading is an exercise in observing and responding to the ever-present moment of now" -Ed Seykota

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