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To: Marshall who wrote (27026)1/8/1998 9:18:00 AM
From: drakes353  Read Replies (1) | Respond to of 33268
 
Marshall:

I mentioned you being lucky getting that at the bid without fully explaining why.

I realize we have the "New Rules" for the NASDAQ which require the best bid/ask shown regardless of who has it but I've heard not everyone is following these rules to the letter. On occasion I talk to "those that would know" at some firms - including a few guys at their trading desk - and the word is an occasional "fudge" occurs. You can't see these things just watching the tape but if you were the one that placed the orders through another MM and were watching ......


Life is so much more interesting when there is "something" going on, isn't it? Have someone "that would know" run a time and sales for you. The ask got down to $3 for around a minute on 1/2/98 and 8200 shares (two 1000 share lots) traded at $3 with the stock 2 7/8 x 3.

Waterhouse didn't do anything heroic, they bought at the ask.

Move on to something else.

drakes353