Talk About A Glitch In The System

Every investor dreams of beating the market. And a band of nimble traders has figured out how to do just that, extracting as much as $30 million a year in profits--quite legally--from the hides of Wall Street dealers that make markets in over-the-counter stocks. These traders are doing it by ingenious use of NASDAQ's computerized order-taking system designed to aid unsophisticated small investors. The market makers, hoist with their own electronic petard, are outraged.

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