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Just out of curiosity what is he saying now???? I followed him thoughtout
the early 80's. He was pretty good. Bob/Chicago
-----Original Message-----
From: Stan Book <sbook@xxxxxxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
Date: Friday, December 31, 1999 9:11 AM
Subject: [RT] RE: Re: QCOM / NASDAQ stocks
>Hi
>
>Does anyone remember Richard Ney and his revelations about the NYSE
>specialist system?
>
>If Ney is right, the Nifty NASDAQ Techs would behave differently if they
>were specialist controlled. According to Ney, the patterns we identify in
>charts of NYSE stocks are artifacts of specialists trading for their own
>accounts. He contended that, in an uncontrolled (i.e. true auction) market,
>price movements are accentuated by order imbalances at market extremes. Ney
>observed a price/volume signature at important tops and bottoms in NYSE
>issues that he used to identify these turning points.
>
>Louis Navellier writes
(http://www.investorplace.com/free/bcg_free_011.php):
>'NASDAQ is a virtual auction, and many days there are 20 buy orders at the
>opening for many stocks and no sell orders, so the stocks gap up. In the
New
>York Stock Exchange it works a little differently. They have an inventory
of
>stocks, and they try to fill the stocks in a little more orderly manner.
So,
>some of the tremendous rally we are having is due to the massive order
>imbalances we are now receiving on NASDAQ. These order imbalances will
>likely persist in January.'
>
>Has anyone on the list explored the premise that price patterns (especially
>at turning points) differ for NASDAQ stocks?
>
>Stan
>
>> -----Original Message-----
>> From: listmanager@xxxxxxxxxxxxxxx [mailto:listmanager@xxxxxxxxxxxxxxx]On
>> Behalf Of Proffittak@xxxxxxx
>> Sent: Friday, December 31, 1999 7:53 AM
>> To: realtraders@xxxxxxxxxxxxxxx
>> Cc: realtraders@xxxxxxxxxxxxxxx
>> Subject: [RT] Re: QCOM
>>
>>
>> In a message dated 12/30/99 9:57:14 PM Eastern Standard Time,
>> toddao@xxxxxxxxxx writes:
>>
>> << Is wall street screwing the public in situations like this or do I
>> read to many emails?
>>
>> >>
>> hi
>>
>> the market makers got together for lunch and decided to take all this
>> (stay home day traders money)
>> and that's how they did it!!
>> it made a very bad candle yesterday
>>
>>
>>
>
>
>
>
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