SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks Message Board

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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks

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To: Chuck Bragg who wrote (5156)	10/22/1996 7:28:00 PM
From: LCE321	of 13351

To All... a little info about the Pink Sheets Stocks that trade on the Pink Sheets are traded in much the same way they would on the OTC BB. The only difference is that there is no ellectronic trading. It's all manual. The Pink Sheets are a quotation service provided by the NQB (National Quoations Bureau). The trades themselved are done over the phone, the quotes are then entered ellectronicaly. Some quote services (like BMI) do offer Pink Sheet quotes. If anybody hear is familiar with how bonds trade you know how the system works. It's like the "old fashion" way stocks were traded 75 years ago. Your broker calls one of the MM and asked what will you give me for X number of shares, or what will you sell me X number of shares for. NQB offers quotes for bonds (yellow sheets) and for some BB stocks (pink sheets). The bid and ask for each broker (MM) are shown in the daily issue of the pink sheets. The bid and ask will not be shown by any quote service. Only trades will be quoted. That is why many of us recieved trades all day but no bid/ask. The problem this causes is that what we see on our quote systems are often not acurate becuase they are delayed. A trade is made, the MM must then enter the quote in a "timely manor". What is a "timely manor"... 5... 10... 15 minutes. Some quotes may be current while the trade right after a current quote may have been made 20 minutes earlyer. It's a mess... to say the least. I can say that ANYBODY who uses online brokers should not buy or sell this stock over the computer. Call a broker yourself, tell them to call the MM and get an offer and an ask. If you have a full service or semi full service broker you can ask them to do a little negotiations for you. This system does not work around placing orders. It's like going to a swap meat. You want to buy or sell something you have to do a little bargaining. You can't realy place limmit orders, becuase it's all done on the phone. If you plan to buy or sell, ask your broker how you should go about it. If you broker does not know, go over his/her head. Somebody will know. But it's not what most of us are familliar with. If you just place an order (market or not) you rolling the dice. I have never done any trading with stocks that trade only on the pink sheets, so I'm not sure myself. But do NOT just place a market order, you will get screwed.. ROYALY. Ask your broker what you should do and how you should do it. Like I said, if you broker does not know go over your brokers head. Somebody will know..... best of luck to all -Leif

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