Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.555

-0.8%

Dec 31 3:59 PM EST

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To: Ian@SI who wrote (16473)	9/29/2000 2:33:47 PM
From: Georgeb	Read Replies (1) of 21876

just to elaborate on the good answers already provided: The specialist has screens listing bids and asks (limit orders) all the way across the price range. He also has a reserve of stock bought for himself, a tool in helping keep an orderly market by moderating up/down changes. When the bids are all heavily biased down, he will use his stock reserve to try and ease the price down as gently as possible. The specialist by the way is permitted to make an overall profit for keeping the market orderly. If he/she focuses too much on profit, and not enough on order, the NYSE will replace him. The specialist will also initiate contact with large market makers to try and settle a large open order.

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