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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (16725)	11/4/1999 11:50:00 PM
From: MIKE REDDERT	Respond to of 29970

<The market maker's job is to step in the path of ruin> Look at the intraday price and volume chart of MSFT on Wednesday afternoon... does this look like MM's stepping in the path of ruin ? Perhaps I should say that MM's can be very proactive in adjusting their spreads under certain conditions and under the then current rules. The goal of the NASDAQ rule makers is not to bankrupt the MM's. Some rules have changed. Where once a MM had to honor his 1000 shr bid even if 50 daytraders suddenly decided to sell 1000 shrs, sticking him with 50K shrs, he can now remove his bid after executing one SOES order for 1K shrs. If you "step in the path of ruin", are you not making an "assumption that you know where the markets are going"... in that you are assuming that the stock will not fall precipitously in the face of heavy selling ? Is this not particularly true in the electronic world in which we now live ? Mike