Replies to post #5468 on Namliong SkyCosmos Inc (NLSC)

[rosequartz]

i've had a bid in for .23 for a few weeks---wish i had gotten your shares!

[WinningNoMatterWhat]

This is unsolicited. So supposedly only retail trades can occur. Quite a few of us have large chunks here. I fully believe a very good deal will happen here at some point. There is too much working for this shell. It’s too valuable to let die. Many of the shells from last year sold in the $100k range. This sold for over $400k. The value is there if somebody can make it happen.

One thing to think about…strong dollar, high interest rates worldwide. Wouldn’t you want to raise money through a US offering as a foreign company right now? Good exchange rates.

[splintered sunlight]

The real reason is that this is a pink sheet stock so the market maker just skips bids and fills his own book. [/I]

What does that mean they just skipped bids and fill their own books?

This is very thin. I was the seller of the 2500 shares only because I had something else I wanted to buy that day and I still have a large position which is not for sale. What happened to the order is instructive. First I had to offer it at a lower price than the offer, in this case .53, the last trade because otherwise I got a message saying offering at .25 was "too far from the offer". So I did that and actually 100 shares traded at .53, so then I simply change the offer to .25 and then .23 and the block sold. Reading the thread here suggests the market maker who is still bidding .23 wanted to fill his book for the next run up or to cover a short position? The irony is that it is both hard to buy and hard to sell such thin pink sheet stocks which is bad for all except the market makers, but all that will change in a flash when a deal is done, and I remain in the camp believing it will.

Yes it is very thin but if you wanted to sell of course you had to offer lower than the offer. If you want to sell a stock with a large spread you have to call your order in to the broker due to the limitations the brokerage firms put on wide spread stocks.You then had to lower your offer because there are no buyers out there. If you don't hit the bid you don't sell anything. Of course it sold, it was bid at the limit price you put in. How did the market maker skip bids to fill his own book - the trade took place on the bid!!!!!