Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Don Earl who wrote (18598)	11/20/1997 9:46:00 PM
From: dwight vickers	Read Replies (2) of 42771

Don and BP, From my days working at Dean Witter I can assure you that the bid/ask spread is owned by the Market Makers. No one else gets to trade there. No matching orders. Forget it. These guys don't make their money on commission anymore. It's on the spread. Everyone should be extremely careful of the $15, $12, $8, $0, commission companies. Guess how they make their money? Everytime I've been filled at a buy under the ask, or a sell over the bid, it's been a sign that the stock was going in the opposite direction of the trade I made. That's the only reason I got a "deal". I've sat 1/8 under the ask on a 1/2 point spread for days, and never been filled. It's a scam, and no one cares. BP's concern that it's a conspiracy to push the price down is a bit too conspiratorial. Much simpler...profit, on the spread. Conspiracy gives them too much credit. Dwight

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