Locking down the Shares
Something the broker was saying got me thinking. The MMs have to reserve shares that actually might trade in a day.
If they have orders that are actually in the range of the tallest ask, they might have to take more shares out of circulation. They can kick out orders that they know they will never get to. If the MMs have to reserve shares and the brokers can't loan any out, there might be a way to pop the cork on this. Or at least dial up the pressure.
Pumping?? Not me!! But I don't want to be sitting around for two christmas seasons with no money to buy gifts.
Do place High Sell orders for most of your shares. This makes it a no no for a broker to day trade them or loan them out. If you are just holding the shares in the brokerage, the broker can use them as they see fit. But take a couple of hundred or a couple of thousand of them and place them just below the tallest asking price. I suppose the down side is the order might get hit in a real run and sell for less than top. But you could always buy back in later. When a stock runs there's generally nothing to keep it up at the peak. So you give up some shares. But you do make some money on it.
On level II there's been someone up around $200 all week for the PQ, but the tallest on Friday was only $55 a share for PQ I think that it makes a difference if your order is withing the MMs max spread. They technically have to have shares available or something like that. And they can kick out orders that they feel they can't reach. But if the MMs have to keep shares to trade, it's less they can loan.
Bank of america had an ask at the top of the list for WAMUQ at .125 last friday.
Jeffries and company had an ask at the top of the list for WAMKQ at $6 last friday.
WAHUQ had a tall ask of $2000 in the list but the tallest real ask was $25
If you are worried that they might actually sell too low, you could put the order in all or nothing. It might make a difference.
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