February 1, 2005
The SEC would be smart to follow through with this plan to impose a trade through rule on the nasdaq market. That exchange is out of control with hedgefunds and program traders moving the price of securities regardless of outside buy and sell pressures. People should HAVE to work their trades through the bid and the ask, period. Otherwise, manipulation is too easy, when a short can sell above the ask, and have it covered seconds later below the bid. In this case, the markets are not liquid, they are horseshit.
Please follow through with these plans. Do not succumb to pressures, just do it After reading an article today about Ameritrades stance on the issue I will be moving ahead with plans and finding a different broker.
Thank you, and pardon the foul language. :
Best regards,
Jamie Keefer