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Technology Stocks : Ciena (CIEN)

CIEN 204.21

+2.0%

Nov 28 4:00 PM EST

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To: Tim Luke who wrote (5099)	11/3/1998 9:30:00 AM
From: DanZ	Read Replies (1) of 12623

Tim, Market makers do not have the motive that you are thinking. Most don't even carry overnight positions and they trade in and out of positions quickly for 1/16, 1/8, whatever they can get. Market makers do not care what the price is. They just want volatility and a spread to work with. Given the volume and number of competing orders from other market makers and traders, it's highly unlikely that they can manipulate the price anyway. Lastly, a market maker can't force you or me or anybody else to enter a buy or sell order so "clearing sells first hoping to shake shares" doesn't make sense to me.

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