Bid /Ask Spreads - Market Manipulation Message Board

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Non-Tech : Bid /Ask Spreads - Market Manipulation

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To: ---------- who wrote (194)	11/8/1996 8:41:00 AM
From: J. L. Livermore III	of 308

Doug: I have been day trading with a group of professional traders for about a year. While not all market makers are corrupt, they do have an interest in preventing you from profiting at their (or their clients') expense. For example, they will communicate with each other when they learn that one of the big houses has a substantial amount of stock to move so that their friends can get their bids out of the way and not get hurt. Who does get hurt by this advantage they have?? I don't think I have to tell you. I have come to the conclusion that market makers are sort of like casino operators and day traders are the opposition. The market makers have fought the SOES-NASDAQ trading system the same way the casinos try to eliminate good card counters. Good luck with your trading. Stay focused and you can profit! KH

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