jgunter's - going out on a limb - wednesday, page-94

Hi 64,

Market makers still have to see both sides of the market (bit hard to be responsible for "MAKING" a market any other way) and arbitrage is still par for the course - yes even on the ASX. Things are just a little more streamlined now.
Also, when we refer to "smart money" we aren't referring specifically or exclusively to market makers - we include them because they trade their own accounts in competition with the other market professionals.
The underlying principles that drive the market are still the same regardless of how the market is made ie Supply and Demand, Cause and Effect, Effort vs Result.