Bid /Ask Spreads - Market Manipulation Message Board

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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: Robert Graham who wrote (250)	1/28/1997 4:51:00 PM
From: ----------	of 308

Robert: Those particular stocks can be a real son-of-a-gun! Many times I get the impression there are no real public bid/asks out there and the specialist is just posting numbers, because it is his job to do so. Sure, he has to buy/sell a small amount at the posted price, but since it is for HIS account, and he is paying more to borrow the money than the preferred dividend, he jumps/lowers the price FAST! The only way I have ever had any luck moving a few thousand preferred shares that were thinly traded was to put in an order to sell that stipulated: 1. Good Till Cancelled 2. Limit Price 3. Will accept minimum unit of 500 shares. That way the specialist has something to work with. 3,000 -4,000 "all or none" may never get filled, because the stock hasn't done that much volume in a single day in 6 months. The 500 minimum makes sure I don't get commissioned to death on 50 share odd lots. Regards, Doug

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