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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?


To: JakeStraw who wrote (59857)9/15/1999 10:41:00 AM
From: R.E.B.  Read Replies (3) | Respond to of 90042
 
Actually Jake, the two exchanges, AMEX and NY are pure auction markets and the job of the specialist is to maintain an orderly market. The NASDAQ and BB markets (which are both considered over-the-counter, are negotiated markets with several, sometimes dozens, of MM's jumping in and out of bids and asks. The MM sometimes are in ca-hoots with each other and screw the public with big spreads and fast runs (up and down) on market orders.