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Technology Stocks : Egghead Computer (EGGS) -- Ignore unavailable to you. Want to Upgrade?

To: Anaxagoras who wrote (4597)	12/18/1998 10:55:00 AM
From: James H. Irwin	Read Replies (1) \| Respond to of 8307

<<Would you at least agree that (1) widening spreads dries up liquidity, (2) demoralizing buyers, (3) and the axe has great influence over the other MMs insofar as what they do, the others tend to follow.>> I agree with #3. Widening of spreads is more of an indication of illiquidity not the other way around and as for demoralizing buyers, you can place your bid wherever you want. Just because someone doesn't want to sell the stock an 1/8th or a 1/16th above the best bid doesn't mean anything other than the current holders want a better price for their merchandise. <<Ok, let's not drag out a tiresome debate about the control that MMs have over a market.>> I agree, but I didn't start the stuff, I just wanted to make sure novice investors don't get the wrong idea. Sidebar: How do you italicize your comments...it appears easier to read one's earlier comments...using IE 4.0