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Re: SmoothTrader61 post# 6764

Sunday, 05/16/2010 1:40:27 PM

Sunday, May 16, 2010 1:40:27 PM

Post# of 19370
Like I said, people got to get paid. Market makers, contrary to popular belief, are people too. They don’t make money by selling $150 worth of stock at the bid. The price of a stock is controlled by the order stream. There is maneuvering room provided the MMs by dolts who place market orders. If there is an overabundance of sellers in the queue the price will go down. If there is an overabundance of buyers in the queue the price will go up. And MMs selling $150 worth of stock at the bid are not going to stop it from going up. If all buyers and sellers only placed limit orders, the MMs would not have any control.

What amuses me is that people who whine about the MMs screwing them don’t have the sense to pull out of what they believe is a rigged game.

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