Hey Jorj, now be nice and give me a little credit.
I know the difference between the BID and ASK; however, there are some supporters of companies who when in a battle of the short (and only when in a Battle of the Short), to do something to combat the short, will sometimes demand to buy at the ASK.
I may be the ex-English teacher on board, but I was weaned on the market - being the son of a broker, and when other kids were watching Hoppy, Roy and Gene (LOL), my dad was doing charts with me in the old Standard and Poors Red Books. I also sold mutual funds for First Investors to supplement my meager teaching salary and have lurked around the market for about 35 years. My first investment was in Brunswick when I was 16, bought my first car on that one. My point: I certainly know the difference between the BID and ASK.
My other point is Please lay off words like "stupid." The question I asked came from a supporter of ECNC who requested his broker buy at the ASK! The broker complied - the MM didn't. In the meantime, I did my homework, and I found out that some brokers are only too happy to fulfill such a "seemingly ignorant" request. Believe me, Jorj, when I first got the question, I thought the gentleman was a bit atilt myself (LOL). By the way, the only brokers who are successful in this kind of transaction (or perhaps even one for a penny above ASK) are ones who weild a lot of power in the office - if you know what I mean.
As always - great to exchange point and counter-point.
God Bless,
Manny |
