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To: patron_anejo_por_favor who wrote (88804)	3/19/2001 8:06:15 AM
From: Tommaso	Read Replies (1) \| Respond to of 95453

Appreciate your restating more eloquently what I was stumbling around trying to say. A rather far-fetched analogy might be Bill Clinton's reputation, which seems to be going to reputation heaven. It's gone, but no one else got it, except for some inconsequential short selling by Republicans. Meanwhile, back in the oil patch, we seem to have an unexciting opening, except the firmness in natural gas is wlecome to those of us who were so confident that it would not go down this far that we thought about buying futures.

To: patron_anejo_por_favor who wrote (88804)	3/19/2001 8:27:33 AM
From: Hawkmoon	Respond to of 95453

Patron, that was what I was referring to by maintaining liquidity in a market. When a stock gaps down, it is usually to a level where the mmkrs are willing to step in with their own money and accumulate, thus, some might say, interfering with the natural process of markets. And being mmkrs, tasked with creating an orderly market, they create that artificial buying pressure, holding the stock in inventory unless natural buying pressure (interested buyers with cash on hand) can be mustered. And without the mmkrs stepping in, that price deflation in the "balloon" could become a balloon "burst" that results in mass panic selling and going from extreme valuations to extreme undervaluations and no willing to step in and catch the falling knife. So this is similar to what many may claim to be what the AG's "PPT" (plunge protection team) is upon, maintaining liquidity and preventing all out panic that feeds on itself based upon emotion and not rational decision making.