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Non-Tech : Bid /Ask Spreads - Market Manipulation
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To: Gene Cullen who wrote (113)10/17/1996 12:15:00 PM
From: NoName   of 308
 
I know how the auction market works. What YOU know is what the speicialist want you to think how the NYSE works. I know of people on the floor that agree with me about the rigged market. Do you really believe the specialist follows the rules of supply and demand when millions of their dollars are at stake. Give me a break, obviously you are naive and brain-washed by the specialist.

Who is going to stop the specialist from setting the price of the stock. The SEC? they don't know what orders are in the specialist books at any given time. In fact, many of the reports that the specialist have to report to the SEC say nothing of pulic orders or short-sales by the specialist for profit, etc...I'm do not disagree with you that the specialist uses their own capital, what I do disagree with you is that their capital is not at risk because they control the price of the stock.
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