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Sunday, August 11, 2013 5:35:56 PM
I'm gonna explain one more time how covering works when MM's facilitate a riskless trade. Lets say for example someone wants to buy 5 million shares. The MM will sell them the 5 million shares naked, then they'll turn around and buy the 5 million to cover from someone who has a sell order in. It's called a riskless trade and is done quite frequently with penny stocks. That way MM's never get stuck holding shares due to canceled buy orders. Sometimes they cover those shares quickly enough that no short sales show up on the list, other times they don't. I really doubt they care much about whether they show up on that daily list or not, since most MM's end up flat at the end of each day. The important part of this is, when they buy back the shares they sold, it's not printed on the tape. The only thing printed is the first part of a multi-part trade. So for you to say there hasn't been enough volume since then to cover those shares doesn't make any sense at all, considering there will never be a second print on the tape for those shares. Double printing, showing both the buy and the sell, was done away with decades ago.
Populus vult decipi, et decipiatur
"The people wish to be deceived, so let them be deceived."
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