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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks
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To: Mr. Aloha who wrote (5182)10/23/1996 3:38:00 AM
From: LCE321   of 13351
 
Bryan... you are 100% correct about the pink sheets

I called a broker I know this afternoon. I realy don't know much about the pink sheets, and this person has always been very helpful with questions like these. He has been a broker for almost 20 years. He said if I (or anybody els) put in a buy at 3/8 when 90% of all buys were being filled at 5/8 or 3/4.... the market maker would probably just through my order in the trash. With the pink sheets market makers will almost never play the swings. This meaning they do not want to have a substantial long or short position. With a stock in this situation (that could be trading at $1 or .05 depending on posible news) they make their $$$ on the spread. They just flip all day, buy at 1/4 to 3/8 and sell from 1/2 to 3/4. I'm sure some if not most of the volume today was simply manuvering betwean market makers. That would explain why some could not get filled. Being the first day trading the MMs want to sort out their long and short positions as soon as they can, going right over the indavidual orders. Like I said with a stock like SEXI on the sheets.. they dont' want to be long or short, MUCH too risky. So those who had a load of shares may have been selling them to those MMs that had/have a large short position. Today was just a mess. Look for things to trade better by the end of the week. SEXI can't trade like this forever.
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