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Strategies & Market Trends : From the Trading Desk
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To: steve goldman who wrote (2537)2/8/1998 9:19:00 PM
From: TraderRick  Read Replies (2) of 4969
 
Steve

Thanks for all the information you have posted here at SI. I've just joined and just started daytrading so I have questions. I asked this on another thread but you seem to have some insight and may not see the question in the other area.

Could you explain the relationship between SOES and Market Makers, if there is any? Do the Market Makers sell their shares on the SOES system? If not where do the SOES shares come from?

Also.

When I see 2 MM's each with 1K shares at the ask and 4 MM's with 1K shares at the bid, I frequently see many thousand shares sold at the bid and ask and in-between and the MM's still have their 2K and 4K shares showing on the L II screen. Who is selling all those shares "in the background"? Is this one of the ways MM's manipulate the prices by only showing 1K shares at the ask but selling multiple 1K share blocks without raising his ask price instead of showing that he actually has 7K shares available at that price?

Thanks for any insight you can provide.

TraderRick
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