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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: voodooist who wrote (41862)	1/1/1999 8:58:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

Fred, I think Ney is fascinating too. But he exaggerates the influence that the specialist has, imo. If you take him with a grain of salt, you're fine. There is a thread on SI devoted to it, which I think tells the tale pretty well. Most people that I have seen that follow Ney take it too far. There's a guy on a thread that I won't link to that says the specialist often takes the price of the stock in question from 30 to 20 whenever he wants to so he can buy it cheaper. But the same guy is calling for this stock to reach 60 within a year. I question that if stocks are under specialist control, how in the world could you predict the future course? Couldn't this specialist, if he had these powers, make just as much money in a trading range that he bounced the stock around in a volatile fashion?