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To: Matt Brown who wrote (3975)4/20/1998 10:22:00 AM
From: Tony  Respond to of 6654
 
MMs sell at the ask and buy at the bid. (opposite of what we do) Raising the bid is the opposite of what they want to do if they have excess inventory, because raising the bid causes people to want to sell in order to mimnimize their losses, causing them to increase their inventory.

-Tony


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