Word: trader
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Gary Ciuffetelli once scraped out a living in a machine shop, but now he's getting ready to "ride a wave," as they say at All-Tech Investment Group in Suffern, New York. Dressed in shorts and a T shirt, the 33-year-old trader stares at a computer screen linked to the National Association of Securities Dealers Automated Quotation System (NASDAQ), the world's second largest stock market after the New York Stock Exchange. Sensing that Lotus stock is starting to climb, Ciuffetelli tells an All-Tech clerk to buy 1,000 shares. The clerk presses a few buttons...
...price differentials that clients spot and pounce on. Customers who correctly predict the direction of a stock can reap $250 (less commissions) for each quarter-point gain on a 1,000-share bet. But "riding a wave" is not so easy: a stock can blip upward, enticing a small trader to buy it, and then come tumbling down. "Oh my God!" cries a fortysomething beautician as she loses $250 in a split-second transaction involving Genzyme, a biotechnology firm. "This has been the longest trade of my life...
...other observers, the East may be the apotheosis of Heisenberg's theories of uncertainty; to Soros the Speculator it is the land of opportunity. "The worse a situation becomes, the less it takes to turn it around," he observes, adding with the logic of the consummate trader, "the bigger the upside." It is a quantum leap he is prepared to take...
...reduce a four-year prison sentence by performing community service at a boys' club. A consultant was instrumental in advising Miami moneyman and convicted tax cheat Victor Posner on his offer to establish shelters for the homeless in lieu of prison time. Onetime Wall Street legal eagle and insider trader Martin Siegel asked for and received the chore of running a children's computer camp. Securities fraudster Michael Milken is awaiting court approval for his plan to educate inner-city youth, a proposal that appears to have contributed to his early release from prison despite an initial 10-year jail...
George Wendt describes his stage role -- as an alcoholic commodities trader who has gambled away his marriage, career and net worth -- as "Norm's evil twin." There isn't even that much difference between Wendt's characters. The guys gathered to roast in the tribal sweat lodge and discover the "wild men" within are losers, not predators, full of thwarted yearning and silly sweetness. One moment rises to real wit: a dream sequence in which a neglected son of a rich man summons his father, only to find the old man is as usual too busy and has sent...