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Microcap & Penny Stocks : NCDR
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To: Sir Auric Goldfinger who wrote (1234)6/25/1999 5:25:00 PM
From: Arthur_Porcari  Read Replies (1) of 1440
 
Auric, I assume that your statement that no MM will file a 15c211 on this stock is just a dream on your part. If not then you are as naive as several others on this board.

But to address you comments about the trading restrictions currently on the stock. Anyone brokerage or trader can post an order, buy or sell for the stock on Instinet as long is he is documenting the orders as outside unsolicited.

In the case of MM's it is perfectly legal for those who are closing out positions that they may have been long or short prior to the halt. They just better not get caught "Making a Market" in the stock.

The 15c211 rules were not put in place to punish a MM who might have been left with a position prior to the halt while they were trying to make an "orderly" market. If an MM is short the stock and is forced to "deliver", he still has to deliver, just like anyone who is in a "fail" environment.
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