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Non-Tech : Sungold Gaming International (SGGNF)
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To: John Lawrence who wrote (4128)8/13/1999 9:46:00 PM
From: kidl  Read Replies (1) of 5164
 
Was actually kind of funny to watch the MM's at work today. Kind of looked like they didn't know if they were coming or going.

If they set the ask too low with a big spread, the shares were gobbled up and no one sold.
If they set the ask too high with a big spread, trading dried up.
If they brought the bid too close to the ask at the high end of the range, people sold into the bid.
Only towards the end of the day, did it look like they found a balance after reducing the spread from 20%+ to 5% and holding it steady.

I could be wrong but it surely didn't look like they were in control most of the day and ended up selling out of what little inventory they may have.

If I'm correct, look for a giant roller coaster early in the week.
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