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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Gabor who wrote (34793)	2/13/1998 5:38:00 PM
From: Gary Korn	Read Replies (1) \| Respond to of 61433

I think we are talking about the same thing.I was refering to individual buyers,not the MMs.Example the way I been doing it: Bid=20 ask 20 1/8 You can only buy at 20 1/8 or 20 1/16 Am I wrong again? Gabor, 1. Don't you just know they intentionally made this stuff confusing so people like you and me would get screwed up. Imagine Ma and Pa investor dealing with this! Good grief! 2. I've been confused for years on this. I used to say GSCO was well above the ask, thinking that meant it was buying. WRONG! Pete Broker corrected me and said, no, look to see if they are tight on the bid. He was right! If a MM is on the bid, it is buying. If a MM is on the ask, it is selling. 3. As to the above quote from you, you are 100% correct if you are looking at it from your perspective. When you want to buy, you would pay the ASK (and GSCO, the MM, would sell it to you at the ASK). If you want to sell, you would only get the bid price (and GSCO would BUY IT FROM YOU at the bid). It starts to make sense, doesn't it? 4. This is why the bid/ask volume is bullish when bid is greater than ask. It means the 100x10 means that MMs have more "buy" inventory (so to speak) then sell inventory. 5. OT, I hope you didn't get as screwed on HVSF/HVSFD as did I. Last time I act on a tip from a gynecological oncologist! (Just kidding, though I should have researched before I bought.) Gary Korn

To: Gabor who wrote (34793)	2/13/1998 5:41:00 PM
From: username	Read Replies (4) \| Respond to of 61433

Gabor, on the NASD the MM takes the stock in (buys) at the bid and lets it out (sells) at the ask. If you want to buy stock, you pay the ask, the MM owns it for less than the ask, that's the game. that's how they make their money. look at a 5 dollar stock with a quarter spread and you'll get the concept, that's 5%!!. you can always put your buy limit lower than the ask, but no guarantee you will get filled. Note: the NYSE is NOT THE SAME as the NASDAQ on this stuff.