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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: ahhaha who wrote (439)8/13/2000 5:06:49 PM
From: Wayners   of 1426
 
Let's assume you are referring to illiquid BB stocks since for 10,000 NAZ issues this claim is blatantly false.

Don't assume anything. Where do you get the idea I was talking about OTC:BB stocks? You pulled that out of thin air and then claim I'm posting "blatently false" information.

You say that the MM suddenly provides "tons of liquidity". This is actually a statement that the MM is bidding or offering in front of the public's action and that is expressly prohibited.

Another bad assumption. I never stated whether the MM was trading for their own account or representing a customer order. Don't believe me. Read the Marc Friefurteig (sp ?) book. He's a former MM and fully discusses MM tactics to move prices to fill a customer's large order.

If there was no MM, you clowns would be dealing with square well price action

I never said get rid of the MM's. The liquidity rules have changed twice since the MM's got caught colluding on spreads. They got away with that one for years and everybody went on scoffing at the notion that MMs were not on the up and up. All those self proclaimed experts were WRONG. Dead WRONG. MM's don't exactly have an untarnished reputation, and are not exactly known for high standards of honesty and integrity given the 1 Billion settlement they had to dole out just a few years ago for price fixing.
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