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Microcap & Penny Stocks : DGIV-A-HOLICS...FAMILY CHIT CHAT ONLY!!
DGIV 0.00Dec 5 4:00 PM EST
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To: Craig K who wrote (2908)5/5/1998 2:52:00 PM
From: LAWRENCE C.   of 50264
 
If an MM sells stock at 8, the MM either has the stock or figures he can cover by buying at less than 8.
In post #2901 HJMC and SHRP were selling shares at 8 which they had bought earlier in the week. NAWE was buying at the bid of 7.785 probably to cover shares he sold at 8. For instance if NAWE sold 10,000 at 8 = 80,000 and can cover 10,000 at 7.785 = 77,850, NAWE makes $2,150. If NAWE has to pay more than 8 to cover, NAWE start to lose money on every share he can't cover under 8.
Lucky Lawrence
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