Friday, March 23, 2007 4:37:13 PM
Here's my conclusion:
1) MMs aren't covering large short position until the SEC forces them to.
2) Shareholders are not selling until MMs are forced to cover the large short position.
Therefore, we are at a standstill. No one can buy because no one is selling. It's as simple as that.
Did you put in a buy order at .15 and have it filled within a few seconds today? If so, you must have an in with a market maker or are really lucky, because my buy order at .15 today sat for four hours before it was filled, and it was filled only because someone decided to sell at the bid at .13. You make it sound like people are trying to get rid of their shares, but my experience from today says otherwise.
1) MMs aren't covering large short position until the SEC forces them to.
2) Shareholders are not selling until MMs are forced to cover the large short position.
Therefore, we are at a standstill. No one can buy because no one is selling. It's as simple as that.
Did you put in a buy order at .15 and have it filled within a few seconds today? If so, you must have an in with a market maker or are really lucky, because my buy order at .15 today sat for four hours before it was filled, and it was filled only because someone decided to sell at the bid at .13. You make it sound like people are trying to get rid of their shares, but my experience from today says otherwise.
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