TheGlobe.com Inc (TGLO)

[mankind]

I noticed something very interesting on Friday. On Level 2 the MM ASCM pulled his market completely after lunch. Not surprisingly, the stock began to climb into the close on muted volume. As I have mentioned here and elsewhere that ASCM is a notorious short seller and will lay his quotes near other MM's that are displaying sizeable orders. By doing this he can trade ahead and/or steal other MM's orders, by taking liquidity from the market and thereby forcing displayed limit order holder/s to break price. Anyway, if you have been watching over the last few weeks, ASCM has walked this down and was the "inside" market the whole time and basically captured the spread of $0.03 +/- the whole time.

It's significant for now as the risk/reward on TGLO via the short side is dangerous at current levels. He will re-appear at some point if we see a large move up or if our resident seller that keeps plopping down lots of 25k- 50k+ reappears. Final note, If ASCM or ANY MM thought this were a scam (like most OTC's), they'd try to run the stock into the ground, even at these levels.