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To: BRA who wrote (284)5/19/1999 3:46:00 PM
From: John Miz  Read Replies (1) | Respond to of 395
 
The specialists want to go home early, so they widen the spread to discourage after hours trading.

How's that?

John




To: BRA who wrote (284)5/19/1999 4:38:00 PM
From: flickerful  Respond to of 395
 
here is an opinion, paraphrased, from someone i respect...

<<<widening the bid/ask protects MM's for the following morning...
that way, after they get a pre-market feel for which way the wind is blowing, they can then maximize their manipulation of 'market-on-open' orders (without looking too suspicious)... >>>

charmin, ain't it.