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Strategies & Market Trends : Guidance and Visibility

AAPL 259.21

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10:26 AM EST

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To: Jorj X Mckie who wrote (75268)	9/28/2002 2:12:43 PM
From: Dave Gore	Read Replies (2) of 208838

You missed the point and are talking about relatively minor details in the whole scope of things. The Pennystock market wasn't a major point of focus, but it certainly contributed to some (like Nite's) shrinking earnings. By far the biggest factor was shrinking Bid/Ask spreads and shrinking volume by the little guys. No longer were MM's getting 1/8 - 1/2 point spreads (i.e. 12 - 50 cents) per trade. Now it is more like 1 - 8 cents. Plus if you don't think MM and specialist manipulation on the NYSE and Nasdaq occurs regularly, you're blind. Just look at how late stocks like RTN, ACF, and many others open while the specialists figure out how to best make money. But all that is secondary to this: The Power Players, through "Buy-Sell" programs now control the Market. They don't even need to spread rumors, hire rogue reporters, or pay off insiders for information anymore. They often are responsible for over 50% of all daily volume. That doesn't sound healthy to me.

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