BMI. One of the more lucid and balanced posts on the subject of MMs this bOard has seen. No hype, just a very clear explanation of how MMs think and how they operate.
While we trade relative to the news, they trade relative to the trading range, whetehr the pps is 0.005 or 0.50.
Good post, and a must read for all - except MMs, as they already know what they do! ;)