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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (21482)	7/10/1998 9:42:00 PM
From: robnhood	Respond to of 94695

The specialist does not have to know who the orders are for, but just the fact that he sees the pressure. An enviable position IMO, compared to most people.. For the most part I would say that the specialist will buy on the bid, and sell on the offering, but will relent to more then he feels the market can bear and front run the pressure, which inevitably will cause a price change. Front running may not even be possible if the tide of orders hit to fast... He would have a lot of explaining to do if he sold stock ahead of orders in hand... A specialist needs no more then this insight to (over time) to produce a profit. Lest we forget , he also does not pay commision..Oh yes, and one more thing, I believe specialists collect a tiny commision on every share of stock that is traded in their resposibilities. 1/10 of a cent per share I believe... I am not equating a specialist to a MM on Naz, where they give net fills to clients,, this is a no brainer IMHO... ( of course this assumes the firm he is employed with gets orders) russell