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Non-Tech : Meet Gene, a NASDAQ Market Maker -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (540)	8/13/2000 9:10:52 PM
From: Wayners	Read Replies (1) \| Respond to of 1426

I agree there's plenty of ridiculous stuff people post on boards. No market maker is going to move a Nasdaq National Market stock with decent volume, 10% or even 2% with the firm's capital. I'm not familiar with OTC:BB stocks other than what I've read. Investors in BB stocks should know the risks and know better than to invest in junk companies. I'll have to get out the Marc Frifertig <sp?> book, a former market maker. I don't have the book here. I'd say that a market maker being able to move a stock the way they want whenever they want is impossible. Under the right conditions I think they can bid or offer a stock up or down a few levels and thats it to get to the point where they can reasonably safely buy or sell to match with a larger customer order. The book backs this up and I assume Marc knows what he's talking about. This is what I've meant about "walking" all along, but nobody asked me for details of what I meant...just assumptions and people jumping to conclusions. I also think raising liquidity minimum from 100 shares to 300 shares would be a vast improvement.

To: LPS5 who wrote (540)	8/13/2000 9:30:59 PM
From: Wayners	Read Replies (1) \| Respond to of 1426

I did trade ISIL a few times maybe a month after its IPO. The liquidity was so thin that it would move 5 points, about 10% on very little volume, in just a few minutes. Nobody would step in and provide any liquidity for that thing. I remember flipping that thing twice buying on the bid several times and selling several points above when the down move just seemed ridiculous and paused. At the extreme, a level can be a point or two points from the previous level. Seems to me that a company that can't muster some minimum average daily trading volume should be delisted.