Market Makers - What They Do and How They Do It Message Board

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Non-Tech : Market Makers - What They Do and How They Do It

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To: Rob S. who wrote (323)	1/8/2000 9:20:00 PM
From: Phil(bullrider)	Read Replies (1) of 429

Rob, I understand the original reason that specialists and MM's were originated, but I disagree with the execution. Originally, they were designed to maintain an orderly market. But enter shortselling. Instead of them buying when you want to sell, and selling when you want to buy, they sell short when you want to buy and cover when you want to sell.They, therefor, use any reason to lower the price as much as possible so they can cover. Instead of maintaining an orderly market, they only add to the volatility. I understand that soon the MM's will be history, and computers will be the stabilizing influence. I can only say to the MM's - Good riddance. Now, you state: Quit your petty bitching about MMs and specialists. We all make money by taking advantage of market inefficiencies - like stocks that are under or over valued or the actions of MMs and specialists. Either learn how to play the game or buy mutual funds. You must either work for a MM or be one to make this statement. I believe MM's and specialists have had a free ride for way to long and are dinosaurs in a rocket age. Again I say: Good riddance!!! Have fun, Phil

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