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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: Fenton White who wrote (139)10/22/1996 8:32:00 PM
From: ----------   of 308
 
Just as an alternative explanation, you might look at how the volume
typically drys up in the afternoon before a holiday. Most of
the big institutional guys blow out early. Without that volume
in the market, prices will move more. Remember, the specialist is
required to maintain an "orderly market" in the absence of a bid
or ask from the public. If you have a TIGHT stop loss, you may VERY
well be the bid side of the market on a slow friday afternoon before
a 3 day holiday.

I'm not saying this is what happened, I'm just throwing out another
possibility.

Doug
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