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Technology Stocks : MessageMedia Inc. (MESG) -- Ignore unavailable to you. Want to Upgrade?

To: Gutterball who wrote (455)	12/19/1999 9:24:00 PM
From: JBruin	Read Replies (1) \| Respond to of 553

"some investment houses, that make a market in certain stocks, have an obligation to support the price of that stock." - Actually they have no obligation, there are only two reasons (occasionally a third) why a MM will buy or sell a stock 1) to complete an order (from retail or institutional) 2) because the proprietary trader for the firm believes that the purchase or short sale will be a profitable trade. 3) the third only applies during an ipo, where an IB will support the stock at the offering price (up to a limit) I only say this because if Stephens only received sell orders, they will SELL (they are in no way obligated to support MESG). Anyway we both are hoping for Goldman or Morgan Stanley, so that is all that counts.