Nice attempt at explaining a complicated scenario. Your opening remark, however, is misleading. Nasdaq is also a "big board" and they have mm's... the otc is part of nasdaq, thus they have mm's also. Specialists fill a similar role for the NYSE and AMEX as the mm's do for the nas.
It looks like whatever is happening will take some time...
Lowman...I don't think Wilshire can just announce they are a Specialist....those positions are like a seat on the NYSE and are bought and sold for millions of dollars. A NYSE and Amex Specialist is basically the same function as MM on Nasdaq..he/she makes a market.... This stuff is getting very strange, IMO.... Acting as a brokerage and holding shares for investors doesn't make sense either...
"Wilshire will be acting the part of the 'Specialist', at least for the time being, but probably for good."
Great Post. It is also likely that the Market Makers will not wait that long and will start to cover soon. They can see what it going on and why cover at $5 if they can cover now under .50. It could be a great couple of weeks.
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