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Non-Tech : ECN Bogus Bids and offers, Manipulation BY MMs

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To: pressboxjr who wrote (79)7/23/1999 10:45:00 PM
From: johnsto1  Read Replies (2) of 112
 
Funny, but I was watching TCTY today and as it dropped to $12.00, market maker
LEHM (lead underwriter) was the only one on the bid side and I swear I must have
seen about 50K worth of sells (and his bid size showing 100 or 200). He didn't budge.
Obviously, other traders realized this and more and more stepped on the bid to get in
front of him.
-WHAT WOULD THIS TELL YOU AS TO HOW TO MAKE MONEY?(if LEHM was the underwriter and is on the bid wouldn't this mean they are buying and so should I?)
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