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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: M.R. Davis who wrote (5519)10/23/1998 4:08:00 AM
From: Mark Davis  Read Replies (1) of 12617
 
Nothing too mysterious here. This is my take on what probably happens in these cases.

MM's need/want stock. They can't find any seller at the current bid and if they gun the bid the daytraders will only take MORE stock from them thinking it's going up.

So what to do? Let's run it down, and see if we can 'trigger' some automatic stop sells. Worst that happens is they get nothing and maybe are forced to sell a bit of stock cheap, but that's not too likely as most traders don't buy when the momentum's against them.

If they get lucky, 5 or 10 thousand shares may be 'liberated' a half point lower then they were willing to pay. As soon as they have your stock, up goes the bid & offer, lickety split.

Nice work if you can get it. I've seen this kind of action many times, but there's no easy way to prove deceit. Stops are dangerous for this reason. They get picked off on small moves, and they won't save your butt when disaster strikes (halts/overnight tankers).

Let the buyer/seller beware.
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