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anthonybarry, i thought a hold was when a pitcher comes in and does his job by not given up a run credited to him. but with jay's example, the pitcher who loaded the bases is responsible for the runners and should not have been given a hold since the next pitcher came in and allowed the runs to score but doesnt affect his era.
me personally think that if there is a runner on base and the picher comes out, the next pitcher gives up a hit to score that run, both pitchers should get 1/2 run to their era, not just he pitcher who allowed him on base. i think that why these pitchers today have such high eras. the set up man or closer is not doing their jobs