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Technology Stocks : Cymer (CYMI)
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To: Mark Mandel who wrote (21329)3/16/1999 9:09:00 AM
From: orkrious  Read Replies (1) of 25960
 
Someone appears to be a sleep at the wheel and doesn't have the "ask" price updated, says Schwab

Mark, this is always the way pre-market action works. Let's say that a stock closes at a bid ask of 23-23 1/4. The next morning, people want it and change their bid to 25-25 1/4. All that the Level II market makers show is a bid of 25 and an ask of 23 1/4. All this means is that the market maker still asking 23 1/4 just got into the office, is getting coffee, etc. The market hasn't opened and he hasn't gotten to his screen yet to asjust his asking price.

Jay
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