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Non-Tech : AFC Cable Systems (AFCX)
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To: Rick Slemmer who wrote (11)2/5/1997 4:17:00 PM
From: Sid Turtlman   of 42
 
RS: What causes it is the fact that there are only two marketmakers
left in the stock, and they both have point and a half spreads at the
moment. So if some poor victim wants to buy 1000 at the market and
another one wants to sell 1000 a minute later, the stock jumps up a
point and a half and then drops the same amount. At least that is
what it looks like to someone just following the last sale; in fact,
the stock isn't going anywhere, just two investors being screwed.

As NASDAQ phases in its new rules it will become more like an auction
market, and bids and asks will be posted for the public to see. The
real solution for AFCX is to continue to have great numbers, attract
investors and traders, and that will serve to tighten spreads.
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