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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: missing who wrote (9101)	11/11/1997 7:02:00 PM
From: Bruce Tiemann	Read Replies (3) \| Respond to of 25960

market makers >Market Makers? Isnt that the system on the NYSE? Those are the guys that match buy/sell orders. Isnt NASDAQ an over-the-counter supply/demand type of system? Would appreciate if a professional would confirm/correct this.< No, it's the opposite. Market makers control the bid and ask, and can run it up or down at will and shake out stops, etc, as they wish. These run the NASDAQ. "Specialists" match buy orders with sells, and the price moves to reflect buying and selling pressure - it's an "open outcry auction." The only way to manipulate here is to actually buy or short so much that you can move the price - "bully the market" and trick others into selling or buying or whatever. This is for the NYSE. Everybody, you, me, specialists, and market makers are in this to make money. Where's the line between this and manipulation? If an MM sees a bunch of sell stops down below, and buy stops up above, he could just ding the bid to pick up the sell-stopped shares cheap, and then turn right around and jack the ask, and sell those shares for more to the poor buy-stopped people. Manipulation? Yeah, but he didn't put those orders there, he just filled 'em. I unloaded some cymi today at market open. I'll get 'em back when this thing stops dropping. I'm a serious long-term Cymer bull, and a frightened near-term CYMI bear. FWIW. Oh - and sorry, I'm not a pro either. Bruce Tiemann