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

To: John Madarasz who wrote (19702)	2/16/2000 11:47:00 PM
From: ahhaha	Read Replies (5) \| Respond to of 29970

Nope. The specialist on the NYSE, the MM on the NAZ, the mm on the CBOE, can't interfere with the public action by entering orders to buy or sell in front of the public. The only valid function of the these market making pros is to provide continuity in price. This means that when there are no bids or offers within a certain distance from the last trade or the public bid or ask, the market maker must provide liquidity, the other side, to any market order coming into the market. Thus, they only come in to play where there is a hole in the price structure. Their actions can't compete with those of the public. There are many exceptions to this general rule, but almost all of them are subsumed under order imbalance or fast market conditions, and none of these exceptions relieve the market maker from the responsibility of providing a fair and orderly market. The market makers themselves strictly enforce these rules and the data trace is completely damning to anyone violating them. No one violates these rules because it is impossible to do so and when someone tries, they know they will be gone toot sweet. There's always someone trying just like there are still people trying to rob banks. You won't hear about actions taken against wayward market makers. The truth of the market maker function is so alien to what is universally believed among the greedy, cheating, lying public, that you don't wonder why the pros make no effort to clarify the issue. When the market is favorable to the public you don't hear a word said against the market makers. When the market goes against the public then you hear how those devils are cheating everyone and the government has got to do something. One of the most humorous terms used by the public is the MM "walked it down". I have challenged every patzer out there both on SI and RB about this term and none ever reply. It's more gibberish invented by these fools who simply won't learn how the market mechanism works. They never say the MM "walked it up". This is stupidity of the lowest order. It's hypocrisy. Whenever I see it I'm going to shoot that person down like a dirty dog in the street.