Re: It's the MM time of the day...again
posted on
Dec 11, 2007 10:36AM
BTW...most of these trading houses don't allow their MM's to hold short positions overnight...esp. in a BB stock. So they make their sales when they have to, if they are the best ask they get bought or move their ask price way up. By days end they have to buy back those shares they "borrowed" to make the sale earlier in the day. They don't care if it's a couple of tenths less than the sell price, just so it's less than what they sold it for.