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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes
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To: Panita who wrote (5878)4/10/1998 2:51:00 PM
From: bgfinc  Read Replies (1) of 34592
 
Panita,
Prior to open the mm's can see all the shares waiting to be
bought up. He is thus prepared. Increases his price at open,
sometimes with very wide gaps, people buying at market get
raked over the coals. In the past, people have paid 1.00 over ask
upon entry, without a limit order.

So in conclusion, because we've done it this way in the past
with poor results, it is unacceptable to post pick prior to open.

1. MM's gap price at open-lowering our % gain
2. MM's alerted and prepared-not caught off guard
3. New followers with little experience(market orders) caught
in the stock at higher levels. This scenario forces a sell
at loss or going long, loss of liquidity.

Steve W.
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