Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.42

-1.2%

Jan 16 9:30 AM EST

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To: JGoren who wrote (27900)	4/21/1999 3:11:00 PM
From: dday	Read Replies (1) of 152472

George, Volume on Nasdaq prints both sides of a trade creating a myth of twice as much volume. That is, a 10,000 share buy on the NYSE is one order and 10,000 shares between buyer and seller. Nasdaq prints a sell and buy creating 20,000 volume. Some trades are printed 4 times. Here's how: a) Buy order via broker is sold to a third market firm for a rebate of 2 cents per share. That creates a print. b) Buy is executed by third market firm. Print #2 on the buy side. c) Sell order from Pru is sold to a different trading house for 1 1/2 cents per/share. Print #3. d) Sell order completed on the street to our pals up there is a & b. Print # 4. Thus, 40,000 shares printed on a 10,000 share trade. Houdini would love it. Third market guys pay $20 for the right to execute the order and then work the order for a profit at the expense of the customer. Who needs spreads?????

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