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To: Lucretius who wrote (2608)	10/30/1997 7:58:00 PM
From: Flan	Read Replies (1) \| Respond to of 95453

Lucretius - A speacialist ( NYSE ) vs market maker ( Nasdaq) will not take a stock down to take out a stop. Remember a speacialist is only the middleman between the buyers and the sellers - The only time he will take a position on the buy/sell side of a transaction is to maintain a market in a stock. In other words if there are no buyers he must be willing to buy and visa versa. So your assumption about taking a stock down to take out a limit price is incorrect. Besides most specialists do not execute most small limit orders entered by individual investors, those are done through an automated computer execution system, the computer will update him as to changes in his book orders if a limit order is executed away from him etc. Just thought you might want to know.