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Strategies & Market Trends : From the Trading Desk

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To: g_m10 who wrote (4492)	5/5/1999 7:09:00 PM
From: KFE	Read Replies (2) of 4969

g m10, NITE lost money three days during the two year period 97-98! It was a good period for the market but it went down many more days than three days and some of them were substantial. Despite what you may read on many threads here market makers don't make their money by taking positions in stocks. They make their money on trading volume by profiting on the bid/asked spread. When I worked for the NASD I saw most of the major market makers books and I can't remember any of them ever losing money for even a short period of time on their market making activities. That said be careful with buying NITE because there are several proposals to change the way OTC stocks are traded that could adversely affect market makers. Good Trading Ken

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