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To: Wayners who wrote (7885)1/14/2000 7:18:00 PM
From: Dan Clark  Read Replies (1) | Respond to of 12617
 
Wayne,

Interesting. I'll have to think about that.

Frankly, I avoid MMs because I've rarely had fills by them. I.e., in a fast moving stock, I've found that it actually pays to try to hit the nearest ECN even if you have to lower your sell or raise your buy price to meet the ECN's inside Bid or Ask. Many times, by the time I got through waiting for the MM to back off, the price has moved MORE than if I had intentionally matched the ECN price.

Regards,

Dan.