Good Monday all. Hey ACTX, on the post you
brought to the board, thanks. I guess it has made its way around some boards today.
I hesitate leading any bandwagon to this end, only because this would create an artificial market, and stock trading acitivty that is not generated by normal/natural buyers.
Also, the concerns I have center not only around the effect of this theory, but the ethics of such an action.
MM's may be able to get away with manipulation day in a day out giving the impression of a depressed share price, but because shareholders do not control the actual trading, the result of such an action may backfire. The effect may be nil, or very short term (intra-day effect) that may hurt people trying to beat the MM's at their own game. I worry more though how such action will be looked at in terms of market ethics.
If news, events, filings, share structure, diamond finds, mergers and gold production numbers come out, then natural forces will push the market higher as GTC sell orders will be pushed higher and DEMAND for the shares will be there. The effect of setting artificial GTC orders (in the post, they state a $3.50 GTC) in my view would only result in ZERO DEMAND for those shares. In my view trading would continue as normal, because the only trades going through absent any news would be those based on the supply and demand as controlled by MM's. As long as they have shares and there is no news, no trade to buy at $3.50 will go through, as much as I'd like to see this.
Also, collusion between the MM's is an issue that is a main concern and a major ethics violation on their part when we discuss NSS, and what we have seen in recent months. In the summer with buys at 90-98% with no price movement on the bid or ask, smells of collusion.
I would not want to see or be a part of anything that could come under question as shareholders of the company. Many will say, "The MM's get away with this everyday! We can't sit back! We have to do this in retaliation!"
I can only say, yes everyone is certainly free to do whatever they want here, but just because authorities have failed to act against the MM's on the public's behalf, don't think for one minute the same rules would apply to the little guy trying to get even. I am thinking the shareholders would find the law at their doorstep quicker as a result of this, than we have seen them move against the MM's actions to date.
It's a shame, but it's true. If any part of what shareholders do hints of collusion (whether it is or not) especially in the case of CMKX, which threatens the MM's in such a large way, I think would have the increased chance of a bad outcome legally against shareholders who took part in such a move.
This is all in my opinion of course. I would be honored to be in the meeting or discussion of this in the presence of Atty Glenn for his thoughts and opinions on this and many other matters.
It would be nice to hear comment from him after his filings are done, and when the matters against USCA, UC & Melvin are finally resolved. I know he represents the companies 'CMKX' & 'USCA', and our relationship with him as shareholders is indirect, but in the recent filings, BOTH ACTIONS HAVE A DIRECT EFFECT on shareholders of both companies, so a detailed comment or statement from him could be expected, and in my opinion appropriate.
I'm not talking just a pr as an the only option either. It can be in the form of a detailed letter to the shareholders. I would think some form of update/timetable is ALSO NEEDED on the status of CMKX filing to become a reporting company as well.
Sounds like I'm ordering from the menu of 'Roger's Steak and Seafood' huh? -- I'll have one order of responsive pleadings and a dash of SEC filing updates flambe' on the side please. --
LOL
Be well all,
Bo
