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Pastimes : Richard Ney and the Wall Street Gang -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (450)	4/24/1999 3:22:00 PM
From: BenYeung	Read Replies (1) \| Respond to of 492

Good point! S/MMs have the prices in their books/screen and maximize their profit by using them. That is the reason that Ney encourage investors do not use anything other than market orders. What you mentioned should happen even in seconds because with the trading technologies being used by the online traders, S/MMs loses their edge when the people on other side of the trade makes decision with the same tools. Ben PS. How is everyone's portfolio doing? Good right? I have one loser down 10% (ORCL) but others are doing great. I am planning on selling CSCO and AMZN while keep my long term holding JBL and SBUX. Sold DELL and PMCS in the pass few weeks for a decent profit. I am sure that you all agree the prices are pretty far extended and god knows when it will head down again.

To: Colin Cody who wrote (450)	7/18/1999 5:32:00 PM
From: chartseer	Read Replies (1) \| Respond to of 492

As a former employee of the NYSE whose job on occasion was to print the sales on the tape and change the quote in the IBM stock I can tell you without a doubt if orders are pouring in to buy the specialist can only supply stock. There are also floor brokers from other firms who are in the crowd every day with both bids and offers. Not all orders go through the specialist. When the stock is active there are many floor brokers trading with each other. The specialist cannot hold up buy orders to hit sell stop orders to obtain stock to supply higher. The specialist can only buy for his own account if there are no public orders at that price in his book. The IBM crowd was quite hectic and brokers had to react quickly or miss their market. chartseer