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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: moose who wrote (5560)	2/17/1998 12:39:00 AM
From: DanZ	Respond to of 19079

Moose, From a technical analysis perspective, I agree with you that ORCL has more downside risk than upside potential right now. The only thing that I took exception to is your claim that market makers have an influence over the direction of the stock. You can on occasion buy stock at the bid and sell it at the ask. My personal experience is that this happens more frequently in option markets than equity markets and more often in NYSE issues than Nasdaq issues. It has a lot to do with the fact that stocks on the NYSE are traded by specialists and on the Nasdaq by market makers. There's one thing for certain: if a market maker allows you to buy stock at the bid (he is selling his stock at the bid) then either he has a large inventory to get rid of, he can buy the stock cheaper elsewhere (such as instinet or the third market), or he thinks a downtick is imminent. I don't see any other reason why a market maker would sell stock at the bid.