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Strategies & Market Trends : Angels of Alchemy

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To: LPS5 who wrote (16395)10/10/2000 9:28:02 AM
From: amadeus  Read Replies (1) of 24256
 
I was responding to your comment here,
which if you believe these kind of
market maker activities are not still
practiced, then we aren't watching the
same level 2.
>>
That's right. The market should decide, and it does. Contrary to your assertion that the market (either by issue or as a whole) direction is determined by "any one person" who "decide[s]" which direction a stock's price should move in, it's the collective actions of millions of individual traders - all with varying degrees of skill and access; hundreds of private partnerships, hedge funds, and proprietary trading firms; over 400 dealers; 10 ECNs; and one UTP participant that, on NASDAQ, comprise "the market" in a given issue at a given time.
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