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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Stocker who wrote (1462)	11/19/1998 10:55:00 AM
From: Bosco	Respond to of 14638

G'day all - while I can see Wayne's anguish, specialists [on NYSE] and MMs [on NAZ] are there to make money whenever they have a chance. If one thinks lowering the bid or widening the spread is bad, the blatant case of AVCO on Monday is a reminder that the exchanges are the digital jungle! best, Bosco

To: Stocker who wrote (1462)	11/19/1998 11:06:00 AM
From: Wayners	Respond to of 14638

That's true for a sell stop where the order converts to a market order. In this case the specialist widened the spread from $45 7/8 to $46 1/16, an order goes through at $44 7/8, my order is converted to a sell limit at $46, then the specialist dropped the bid down to $45 3/4 and the ask to $45 7/8 -- and no fill of course at $46 because of the way he walked the bid over $46 without touching it---widening the spread to a high 3/16 in the process. I mean the bid went from $46 1/16 directly to $45 7/8. Rat bastard. I managed to sell at $46 on the next bounce though. I'm done with NT.