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Technology Stocks : PRI Automation up 30%
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To: Monica Nixon who wrote (62)8/2/1996 11:28:00 PM
From: Carl R.   of 193
 
I like this stock, but I have serious reservations about the way it
is being traded. I refer to the market makers. Usually when I call
I get results such as I did today: Bid 26 1/4, Offerred at 27 3/4.
Let's get serious, the market maker doesn't need a spread of 1 1/2
points. I put in a bid to buy a couple hundred shares at 26 1/2,
and later raised it to 26 3/4. When I called back to check the
quotes, it was still bid 26 1/4, offerred at 27 3/4. I had the
distinct impression that if you wanted to buy, you had to pay 27 3/4,
and if you wanted to sell, you could only get 26 1/4, and the
market maker is pocketing the difference.

Anyone else feel this way? Anyone else see anything wrong in this?

I would like to own this stock, but I hate to buy a stock knowing
that I can't sell it without taking a 1 1/2 point hit (5-6%) for
the benefit of the market maker.

Carl
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