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To: LAWRENCE C. who wrote (4872)5/12/1998 1:23:00 PM
From: Buendia  Read Replies (2) | Respond to of 14347
 
Spell out for me the typical reasoning behind an MM which keeps the ask up while lowering the bid -- an unwillingness to sell their own at anything less than the "higher" ask, but also an unwillingness to buy at anything more than an amount which is dropping? What's the typical thinking behind such an approach?

Bd