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Non-Tech : ECN Bogus Bids and offers, Manipulation BY MMs -- Ignore unavailable to you. Want to Upgrade?

To: M. Dion who wrote (34)	7/20/1999 7:57:00 AM
From: HairBall	Respond to of 112

M. Dion: I would like to say that i dont believe that posting a buy or sell can be conceived as a trade....but we are talking symantics....anyways, i totally agree with you that putting up a major bid of (10,000 or 100,000 shares)....gives people the false impression of strength, when in most cases the poster is looking to do the opposite....but IMO....Its not illegal....Immoral possibly....unique strategy.....possibly......but not illegal..... anyways....great thread...mike by the way, its not different then putting 10 market makers on the bid for the minimum amounts just to make the stock look strong....Its a tactic....... Specialist and Market Makers are allowed to trade their own accounts against their customers. That is like going to Vegas and allowing the house dealer a look at your cards with each bet. I "bet" folks with half a brain would not gambling under those circumstances, but for some reason the SEC thinks it is OK for S/MMs to be able to do what amounts to the same. <ng> Regards, LG