Replies to post #5341 on PharmaCom BioVet Inc. (PHMB)

[lockstock31]

That's quite accurate. I suppose some people loosely consider a trade as a "buy" if it trades at the ask, and a "sell" if it trades at the bid. If there is a larger spread and trades somewhere in between, not sure what they would consider that to be.

[TimetoStoptheBS]

No shit even trade is a buy and a sell. Pennys Level 2 is somewhat misleading. Im done arguing with him over this BS I dont think hes here to bash and were all hoping for the same thing here.

[pennyjunkie]

Yes, but often MMs/Specialists provide the matching shares...
either when there is no supply for demand or they decide
to use their inventory to manipulate the price (for fun and profit).
http://www.investopedia.com/ask/answers/04/060304.asp
Specialists are people on the trading floor of an exchange, such as the NYSE, who hold inventories of particular stocks. A specialist's job is not only to match buyers and sellers, but also to keep an inventory for him or herself that can be used to shift the market during a period of illiquidity.
http://en.wikipedia.org/wiki/Market_maker
Other U.S. exchanges, most prominently the NASDAQ Stock Exchange, employ several competing official market makers in a security. These market makers are required to maintain two-sided markets during exchange hours and are obligated to buy and sell at their displayed bids and offers. They typically do not receive the trading advantages a specialist does, but they do get some, such as the ability to naked short a stock, i.e. selling it without a borrow. In most situations only official market makers are permitted to engage in naked shorting.