NCDR Message Board - Msg: 10260573

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Microcap & Penny Stocks : NCDR

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To: J.Y. Wang who wrote (1196)	6/24/1999 3:20:00 PM
From: Arthur_Porcari	Read Replies (2) of 1440

J.Y. I spoke with one of the MM's about what he expects to be posting as a quote tomorrow morning, in the Pinks initally. He expects to open his quote $5 bid $25 offer. Of course this could change rapidly based on order flow. He said he was going to initially keep his spread wide and thin. As he almost got butchered in USAT when it first opened in the Pinks when it immediatly ran up over 300% on what appeared to be "buy ins". You see, the interesting thing about the pinks is that the market is usually equally thin both ways. MM's love it if they are "light on their feet". They make a fortune on the spread. Since this isn't a marginable stock, no one is pressured into "having" to sell stock, and normal buyers can use limit orders. But not so for anyone who may have a "naked short". When a brokerage firm does a "buy in". It usually doesn't care what price they cover "fails" at. Sure wouldn't sleep very well tonight if I had a naked short on this one.

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