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To: Sabrejet who wrote (5109)12/7/1998 11:12:00 AM
From: Spartex  Respond to of 21876
 
SZ- If what you say is true, then NYSE specialist's can never get hurt with bad news ATB on stocks that they "match", right? In other words, when a stock opens gap down after bad news ATB, the specialist just come in and match trades, taking the 1/16th spread only.

<<There is no such thing as MM accumulation as you suggest with an NYSE stock. It is traded with a specialist who just matches buy and sell orders.>>

I would appreciate a more detailed description on a NYSE market specialist. You mean to tell me they "don't" have much of, if any, inventory that they can accumulate/sell shares from? Just doesn't mess with what my understanding on their full activities.

Regards,

QuadK