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Non-Tech : Bid /Ask Spreads - Market Manipulation
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To: Ray Jensen who wrote (97)10/8/1996 8:04:00 AM
From: modon   of 308
 
Hi Ray - Thanks for your insights and experiences, particularly
your 'buy at the bid' trick. I didn't want to leave you with the
impression that I trade inside the spread with any regularity. It
just happened to me yesterday about an hour before I read your
post and I thought I would share the experience. I think the
reason I got the fill was: 1) many buyers were probably setting
limits at the same price, and 2) the MMers may have wanted to keep the
volume up on this issue to continue to unload their long positions.
If they just filled market orders I'll bet the volume would have been half of what it was. In the end, I agree with you - stocks with
outrageous spreads like this are best avoided. - Greg
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