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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: Eric P who wrote (8608)	1/17/2001 11:19:09 AM
From: Cash	Read Replies (1) of 12617

Re: Phantom Bids/Offers - How about the NYSE? Why is the SEC only investigating NASDAQ? The NYSE specialists do this ALL DAY LONG. I've even been on the NYSE floor with a specialist. The quote was 10 x 10. The specialist was short and didn't want to be. He said "let's see if we can scare some stock in, that's me on the bid" and made the quote 10 x 500. A few seconds later, a 10 lot hit the bid, he bought the stock, and changed the quote back to 10 x 10. Moments later, the stock was up a quarter. So again I ask, why just NASDAQ?

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