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Non-Tech : Any info about Iomega (IOM)?
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To: Stan Walker who wrote (6160)8/17/1996 11:56:00 AM
From: IceShark   of 58324
 
Stan: You are exactly right regarding the "over reporting" of volume on the NASDAQ. Some folks in the biz estimate the reported volume is overstated by 100% to 200%. Kind of scary when one first realizes this. Some issues are traded interdealer much less, some more. Just think of the possibilities if a MM with buddies wanted to manipulate - although we all know they would never do that. Read the SEC report on NASDAQ - you can find it on their (SEC) server. With respect to making money, again, read the SEC report for all the ways, but, generally they buy at the ask and sell at the bid - a spread. So in my post of yesterday the MM who bought the 220K block turned around and passed it off to someone else, I suspect another MM (but am not well enough informed of facts), and made 1/16 point. A wholesale trade. He may have kicked back some of his profit to the originating broker for order flow. That is one of the ways the discount brokers can make trades for you for basically no commission. You think Brown & Co. can even cover the paperwork for $29 per trade?

With respect to buy sell on every trade - that is true, sort of. However, the MM can hedge the risk. They have a pretty good idea of order flow and have the house spread. Have you ever gotten the best of a casino in the end?

Regards,

DWW
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