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Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST

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To: Seth Leyton who wrote (9281)7/2/1998 12:02:00 AM
From: J. Conley  Read Replies (1) of 42804
 
Seth,

Are you saying you believe there is no difference between the NAZ and the NYSE and AMEX, that the MMs have no effect on price movements?

Let's assume that it takes higher volume to move up than down. Do you still think the MMs have no role when they are trading between themselves, or when they trade ahead of your order (can they still do this) when a specialist can not?

Appreciate your response.

jc

(the article I previously mentioned refers to an analysis done by John Gould and Allan Kleidon published in the Stanford Journal of Law, Business and Finance, in 1994. They concluded that roughly 41% of NAZ volume is investor generated. The rest, 59%, is marketmakers trading among themselves, known as "the churn". I do not know if the new rules, or the settlement of the class action against MMs, changed this.)
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