Bid /Ask Spreads - Market Manipulation Message Board

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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: Craig Gordon who wrote (282)	3/20/1997 4:32:00 PM
From: ----------	of 308

Craig: Wish I could help you, but I have no idea what you were looking at, as I do not access to either service. Both quotes could be correct... in that Schwab may have been showing you a 15 minute, or even 5 minute delayed quote while quote com was giving you real live transaction history for the time period. Or vice versa. I am not familiar with a "1 minute chart" and have no idea what it claims to show you. I CAN tell you it only trades at one price at any given split second in time. Today, 3/20/97 CUBE traded over a range of $1 1/8. Low 25 1/2 High 26 5/8. CUBE has several market makers, all feeding trades into the system. UNLIKE the NYSE, this stock does not trade only at one post on the floor of a building in New York. It trades at the inside bid/ask and that could be any one of the MM's and may change MM's each time the price changes. To make matters more confusing, I have not seen any uniform system for quoting NASDQ closing prices. Some do last trade, some do Last bid, some to the mean point between bid/ask. Wish I could help you out, but without knowing what data you are seeing there is no way to tell you what is good & what is old. Doug

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