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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: gene_the_mm who wrote (192)8/3/2000 10:49:05 AM
From: paper man  Read Replies (2) of 1426
 
gene the mm - greetings! Mr. J Bishop was kind enough tp supply me this link to your post. I would like tohave dialogue and I have a couple questions, if you don't mind.

In a scenario where a stockruns up 300% or more in a 30 day period on hundrends of millions of shres, and the following falls back to where is started on half of the volume the previous month - and subsequently the majority of the pullback is from MMs either a.) sell short certain number of shares or b.) they originally printed naked sells the first month and hence are "naked short" initially.

Question:
If that same stock is able to issue serious news which creates a retail buying spree - and the same company announces a proxy event which would cause its shareholders the interest to vote - will the MM:

1. Be forced to "buy" the stock to cover original naked printed "buy orders" from the first month demand made it surge?
2. If they "sold short" shares in the second month - are they truly short or are those short sales "vapor"
3. In either category above - can the MMs AGAIN "print vapor shares" to cover the "naked" postion aquired - in effort to show ownership for the forthcoming proxy event?

How many times can they "buy" - "naked" shares that should be owned by the original retail buyers the first month it shot up - and - how many times can they print "buy orders" for their own accounts without actually "buying" a bonified share - to cover their "naked prints" or any shares "sold short"?

Hope my questions are clear and truly interested in understanding your response.

The - moral - to my question is the proxy event. Can they "create" stock to repurchase in mass - to be positioned for a proxy event?
Sincerely.
paper man
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