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Biotech / Medical : IMNR - Immune Response
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To: Robert Knight who wrote (880)7/9/1998 3:05:00 PM
From: ahhaha   of 1510
 
That's a lot of trash and hearsay. Two clowns trying to reminisce about nonsense for sensationalist purposes. Reported on the Yahoo board too.

As far as the public's witch hunt where some angry greedy loser is pushing to have someone punished for losses is concerned, the whole issue is whether the MMs are backing away from round lot commitment at the ask. In the past they would post 1000 at 10 ask and if you were next trade at market, they'd give you 500 at 10 and 300 at 10 1/4 and 200 at 10 3/8. I myself didn't like that. If they aren't confident to honor size at the ask, then they shouldn't post it. That's the whole issue. ALl the rest is public sensationalism.

The SEC claims they are going to be punishing various major members for those practices. This is the SEC grandstanding under the auspices of a Democratic White House. They have to look good to the public as though they are tough with the greedy capitalist pigs. The SEc and the DOJ have reverted back to populist level get the rich type declarations which actually create an environment that achieves the opposite of their intention. They don't care about that. They only care whether what they do looks good to the public. The public feels satisfied and the dealer community goes back with the attitude to "take no prisoners". Legally slam the public into the Stone Age. Sounds like a great outcome for all that do-gooding. So then the order will go 100 at 10 and 900 at 10 1/4. Thank you public and SEC.
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