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Sunday, February 06, 2005 4:27:57 PM
The long and short of it is that no MM's have filed form 15 certifying that they attest to the accuracy of the company's financial information. What you are looking at on level 2 is a list of unsolicited customer orders to buy or sell. MM's are not buying and selling for their own accounts.
Which means when the bottom falls out, it falls out in a hurry, just like Friday. No MM's to buffer the pure market forces.
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