Lance B's : Its A Beautiful Thing Message Board

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Technology Stocks : Lance B's : Its A Beautiful Thing

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To: Tom Allinder who wrote (2842)	1/15/2000 7:07:00 PM
From: Tom Allinder	Read Replies (2) of 4792

Some more thoughts... SEC: Out to nail all the wrong people... it is much easier and cheaper to nail a small OTCBB company for non-compliance or nail an internet poster than it is to go after a major broker. Trading in the OTCBB: One of the best plays on the OTCBB is the walk-down play... Example: a stock moves from .50 to 3.00 in 3 days. At some point, the stock is deflated by the MMs... the stock falls and falls and usually will correct to the previous support level then have a significant bounce. Now, a good MM knows where this level is... Lance knows where this is and so do I. I place my buy order near this level... Why should the MM fill my order when he can buy the stock himself? This is exactly what happens now. What about selling a fast moving stock? ... you can't get a fill on a sell because the MM knows he can dump the price and panic you out of the stock or leave you "hung" at the higher price. Same thing with stocks breaking out... I catch many stocks right at the breakout... why should they let me get stock when they can buy themselves and sell at a higher level? BOTTOM LINE: MMs like our beloved HRZG and NITE have first dibs on stock... it is up to the rest of us to fight over what is left. The OTCBB is crooked not because of non-reporting companies or mis-information or internet posters running stocks. Yes these things do contribute... BUT... The vast majority of the problems on the OTCBB can be attributed to the criminal behavior of the major brokerages who make markets in the OTCBB. The SEC will continue to find scapegoats. It also is obvious that some SEC members are on the payroll of the big brokerages. Why? Witness what the brokerages do to NASDAQ stocks... they issue buy ratings and upgrades so that joe-blow investor buys into their selling.... We need the SEC to keep order. But it is clear that the SEC is going where the money is and is staying out of the crooked business of the big brokers. More than anything, we need a method similar to NASDAQ where we can COMPETE with the MMs... using an ECN, I can compete and beat MMs all day long on NASDAQ stocks. If ECN capability is ever brought to the OTCBB we will all do better. I better stop now... Tom

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