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

To: gene_the_mm who wrote (1033)	9/12/2000 8:47:54 AM
From: WaveSeeker	Respond to of 1426

Gene, I once got a stock on INCA for half-price early one morning. The company had just declared a split, and someone put out double the number of shares at half the previous day's close. Within one minute after getting filled, I got a frantic call from my broker apologizing for having to break the trade. WS

To: gene_the_mm who wrote (1033)	9/12/2000 12:46:04 PM
From: Apakhabar	Read Replies (2) \| Respond to of 1426

GENE... The trade at $17 stood. On another matter, I've noticed that a MM might be selling a number of shares at a price and the number of shares he is offering will not diminish (let's say it stays for a while at 4, i.e. 400 shares). Yet if I SOES or SNET him for 200 share through my direct access software his offer will change, at least briefly, to 2. In other instances I've also seen it happen where the MMs numbers "react" to my direct access but not to other sorts of bids. This was made especially clear to once when I bought 100 shares for a Datek account and the offer did not change, then right afterwards I SOESed 100 in my direct access account and the offer was reduced. What is the meaning of this? P.S. to anyone: Needless to say if you buy shares from a MM who does not remove or reduce his offer, you should consider that a very bearish development.