Tuesday, June 06, 2006 6:15:27 PM
Guys who bought at .08 this time and last year were buying stock shorted by MMs for the most part. MMs were not shorting this stock and driving it down by shorting to MMs. That, I believe is illegal. They short into retail orders influenced by "irrational exhuberance" type momo, which is entirely legal and in fact their responsibility. Then they wait! They wait!
They did not want to buy stock at .08 or .06 so of course it drifts down. They are not responsible to support stocks at a price suitable to us. They didn't want to support it at .04 so they lowered the best bid. MMs are not our enemy. Sometimes our enemy is US!
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