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Non-Tech : Lufkin Industries (Nasdaq: LUFK)
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To: Todd D. Wiener who wrote (96)9/17/1998 1:39:00 PM
From: lofalutin  Read Replies (1) of 103
 
Todd --

These are probably naive questions, but here they go:

Today, at 1:30, LUFK had a Bid price of 26 5/8 and an Ask of 28 1/4.
What's the purpose/reason for such a huge spread? To my untutored eye, it appears that the MMs dropped the floor on the Bid. Why? To discourage selling?

Also, if the Ask price is what I, as a buyer, would pay, why doesn't the Ask size represent the size of the buying interest, rather than the selling interest?

I've never understood what the Bid and Ask sizes really mean.

Thanks for any light you -- or anyone else -- might shed.
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