Thursday, September 21, 2006 10:29:51 PM
http://www.siliconinvestor.com/subject.aspx?subjectid=55464
After reading every one of the links at the top of the header, and then reading the entire thread, you may begin to scratch the surface of understanding the issue.
Or, you can just take the word of one online poster; namely myself, who believes MM's naked short the living heck out of penny stocks. They phantom trade as many shares as they think they can get away with in order to generate commissions and micro penny profits on each flip. Better still; the totally unregulated hedge fund industry is in bed with many of these scam artists companies. Who, while making a killing are putting decent small companies on the pennies out of business. NITE is at the top of the list as it pertains to Sulja.
Or, you can believe what many naive investors believe, they are just "making a market".
If you watch level two day in and day out on SLJB, you can get a feel for the way they manipulate the price. A few small trades take it down 2 or 3 cents, while huge buying brings it up a penny.
Very soon we will see whether the audit is enough to overcome the forces aligned against SLJB. Many now believe the audit will be enough; I still have my doubts and think the only thing that will crush these "knattering profiteers" will be the full court press initiated by issuing a dividend.
First things first though. Let's see if they can hold it back when institutional buying starts slamming the ASK. It appears we have some anecdotal evidence one broker has the word and is getting seriously concerned at this point.
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