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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: Wally who wrote (5903)	9/15/1998 6:21:00 PM
From: TsioKawe	Read Replies (4) \| Respond to of 15313

Here is a fine article on the Market Makers Market Making! Message 4662757 hope this clears up this situation TsioKawe >>>>------------>

To: Wally who wrote (5903)	9/15/1998 9:10:00 PM
From: MskiHntr	Respond to of 15313

Evening Wally, I'll try to explain. Let's set up an example: Close .93. Opening bid: .89, opening offer: 1.01 (Look familiar?) First trade 2500 at 1.01, 1200 at 1.01, 6500 at 1.01. . . offer drops to 1.00. . . 3500 at 1.00, 6500 at 1.00, . . .offer drops to .99. . . 3000 at .95, 100 at .89. 8000 at .95, . . .1200 at .90, 4000 at .90, 200 at .89.. . . .offer drops to .95 etc, etc,etc. Why did the 100 lot get .89?. Market order, therefore best bid hit. Why did 'size' get done in the middle? . . . A. Limit order, . . . B. Broker was told by customer to see if he could do better than the bid. Customer's broker asked his trader to try price X, knowing he had a bottom limit of the prevailing bid. . . . C. Broker's trader knew from past experience that a particular MM was working a buy order for another customer and the MM asked that if he had "something to do" to check him. . . . D. Luck of the draw. Best, Joe