Data Broadcasting Corp. (DBCC) Message Board

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Technology Stocks : Data Broadcasting Corp. (DBCC)

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To: Mark[ox5] who wrote (1967)	1/3/1999 9:30:00 PM
From: Alicia V. Johnson	Read Replies (2) of 5102

No...MM DO NOT "naked short big time to bring the price down for 1/2 hour at a time". MMs trading account may go "short" because they are filling a customer's 1000 share market order...as you know, MMs are exempted from selling short when executing a customer order. In addition, MMs can't say at 9:25..."the S&P futures are down substantially, therefore I'm shorting all the stocks I trade". NITE is a well-respected wholeseller but NITE and other MMs have the SAME "major advantage" as specialists on the NYSE. Generally speaking, specialists AND MMs do an excellent job maintaining a fair and orderly market. Do not judge the entire group based on the OTC Bulletin Board (an illiquid market) or a "bad" experience you may have had. According to your profile, you've been an investor for only 3 years. I'm a lawyer and have been a compliance officer of a major wall street firm for 15 years...as such, I thoroughly know the NASD/NYSE/SEC rules and regulations. All I'm saying is that your statements regarding MMs are unfounded.

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