Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: speedbot who wrote (12028)	7/19/1999 8:31:00 AM
From: Kimberly Lee	Read Replies (1) of 108040

Good morning, speedbot. There are lots of baseless speculations in the post you were referring to -- mms nearly never trade with each other all day just to drive up/down the price in a hotly contested and watched Nasdaq highflyer. The said practice is more common in BBs as there is far less regulations in that arena. As for mms manipulation, I agree with Anthony's assertion entirely. In fact, I forwarded your post to him earlier just to invite him in for the discussion. Besides being one of the most astute traders I have ever had the fortune to run across, he was also the lead market maker of a trading firm for a number of years, and his insights are invaluable. By the way, I seldom rely on what I see on Level2 anymore. The internal books of the ECNs (especially the most popular ones, INCA, ISLD, ARCA, REDI....) have become very important as well as some Level 3 info. The level2 screen is just a confirmation tool that plays a rather minor role in my trading decisions.

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