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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: ---------- who wrote (119)10/19/1996 7:16:00 PM
From: Gene Cullen   of 308
 
Finally, some one that has an open mind. It is refreshing to hear from you. I had just about given up on this thread. Doug, you've been there and seen the specialist in action. It is just as you say. More buyers and the stock goes up. More sellers and the stock goes down. It is just that simple. And these buyers and sellers come from the upstairs trading houses of the listed firms. Not from the specialists accounts. If only more people understood it they would only trade in the NYSE arena and avoid the Market makers of NASD. About 90% of the stock crossed on NYSE is customer to customer. Versus 2% on the NASD. That statistic alone shows the difference in Marketplaces.

Thanks again.
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