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Technology Stocks : Cymer (CYMI)
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To: Danru who wrote (18565)7/17/1998 3:22:00 PM
From: Zeev Hed  Read Replies (1) of 25960
 
Dan typically, you are absolutely right, and probably 90% of the trades at the ask are buys and at the bid are sells. The posted ask is the lowest price for all MM for stock offered by them (thus the MM sells at the ask and you and I buy at the ask. The posted bid, is the highest price for all MM at which they are willing to buy shares, thus you sell to the MM at the bid and they buy from you at that price. I do not know how much crossing is going on, the "revolution" was supposed to be that most trading on larger NAZ stock would be matches of sell and buys order from customers, but I presume that happens only when the spread is minimal.

Zeev
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