it truly depends on the integrity of the brokerage firm where held
== i'm with fidelity and jp morgan & smith barney <tho' that account is so old i think the name has since been changed> i hold jbii shares in cash accts in both fidelity and jp morgan
i have GTCs' set on all my shares ~ JBII included
and not to *malign* either fidelity or jp morgan but i'll be clear imo there are some firms who will loan out shares from cash accts even tho' they aren't supposed to ~ if the PPS is high enough and far enough away from where the current pps is <that is why i always refer to MMs' *laddering* up the pps>
this is all info i got from senior brokers OTR <off the record> back in 2008 time frame .. because i couldn't understand when i knew for a fact where <majority of> shares where held in an OTC stock .. and why *volume* showed
it's very little real and a large part *counterfeit* and it's done via the MMs' under the dubious guise of *liquidity*
so for example if the GTC is set at say 20.00 bucks >> and the acct holds 25,000 JBI shares and the PPS is at 1.50 .. the risk/reward exists for certain less *integrity* oriented brokerage firms
so an iou <never seen by the customer> goes into the acct .. and the shares get loaned out for a specific period of time .. this is where it's vital for *investors* to understand the multi dimensions in play
again these are cash accts i'm referencing
i've also watched margin accts be *raided* for NEEDED shares as well
again a *segment* will scoff at this .. but on another legit OTC co. .. i watched a long have 6M of his 20M shares taken out of his acct so a bear raid could ensue .. 6M of 20M were done on margin at X pps .. they were *pulled* @ 6 ticks higher to short and create both volume .. FUD .. and a 12 tick *downward* pps ~ and it was all done in one day
that is why while i have GTCs' set on all of my JBII shares i keep the PPS close to the day to day trading PPS
and adjust them accordingly based on what transpires
when it comes to smoke and mirrors and the US market and where JBII trades .. i trust very few entities
just a reminder this advice came from a senior broker who got started in the early 80's and has literally seen it all
the conversations were held in 2008 and while specific to another fully compliant co. that traded on the OTC .. i've never forgotten it .. and have found on one other co. with a far larger SS .. the tactics given *DO WORK* based on something remarkably similar to JBI investors .. shares held tightly .. and certs never deposited in brokerage firms
however when GTCs' lapse due to shareholders being human and not computers
the volume increases to 4 X the *avgs* .. 10 day or 90 day
there is no GTC trick. It's an urban legend that started in the 90's. It was a trick to slow down the bagholders from selling pump and dumps because they (a) were dreaming of a price and (b) had to cancel the limit order before placing one that would execute during the spike.
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