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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (62163)	4/17/2005 5:35:36 PM
From: Maurice Winn	Read Replies (4) \| Respond to of 74559

I don't know about the "specialists" you are referring to, but it's obvious that people like TJ who speculate are increasing market liquidity and reducing volatility, because they make offers for stock and to buy stock they have to be the top bidder. If they weren't there, a lower bid would be accepted, therefore increasing volatility. They increase the total number of people and dollars chasing stocks. They are brave, heroic, liquidity improvers, and market stabilizers, performing an essential service. Maybe they should get a government subsidy like other essential services such as police, ambulances and fire engines. Unlike those taxpayer-funded essential services, speculators have to provide all their own capital and take all the risk. Noble! Mq