<<Was most of the $ volume through FAHN, or was MLCO an equal player? >>
On those days when RADAF traded hundreds of thousands of shares at a teenie(!) spread, it was mostly Wedbush Morgan alone at 12 7/8, taking every hit in size, and mostly Fahnestock alone at 12 15/16, selling stock in size to anybody who wanted it. Most of the time, FAHN and WEDB were alone, the rest of the MM's probably wanted no part of the fight until they saw who was going to win.
After a couple of days, locked eyeball to eyeball, FAHN blinked and in a few minutes the stock was up 2 points, and hopefully FAHN will now suffer the consequences of shorting a stock with a p/e of 7 and a growth rate of 50%. Unless they know some real bad news we don't (which I highly doubt), they are going to get killed on this trade. The longer they wait to cover, the worse it will be.
Dennis |
