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Microcap & Penny Stocks : ETPI-Military Entertainment Enters Civilian Market
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To: Master Blaster who wrote (4498)6/22/1999 1:46:00 AM
From: Toby Zidle  Read Replies (1) of 4767
 
I don't have the facts to argue with your statement that MMs hold only short positions on OTCBB stocks. But it looks suspicious to me. Daytraders typically zero out their holdings overnight so they will not be adversely hit by surprises on the next morning's opening. Why not MMs? They are even more at risk of supply/demand imbalances than daytraders are.

If MM's do zero out their holdings overnight, what happens the morning they open when everyone needs to sell? MMs would be obligated to buy in order to maintain market stability. Therefore, MM becomes a long holder.

How does this square itself with your statement that MMs hold only short positions? Can you cite an authoritative web page that supports your position?
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