You know, I keep hearing "MM" this and "MM" that, but we ourselves help them out by selling off, you know. This is a small float. Imagine...if no one had sold a spec (I know, too tempting, too scarey) we would have held at $3.50+ and already been moving up from there. But, neverfear, the immediate profit-takers, daytraders, short-termers, etc. will get out.
Charger, I agree with your philosphy. If I knew every shareholder in GNNX and we banded together to never sell a share this would be logical. But we don't, and every stock has its short term players... so it only makes sense to "play the MM game". Why should they be the only ones to profit?
As for yesterday i was lucky I was on the phone system when it happened or else it would of of passed me by. On the bright side I added 600 shares into "strong hands" from the maneauver and then added 1000 shares at the end of the day as well.
Secondly, it doesnt take many sells to move a small float stock. I saw DGIV taken down over $1.00 once on 3 trades. Yes.. 3 trades. This exchange is ridiculous. On this exchange the MM's do not connect buyers and sellers all the time, they simply move the bid/ask to where they can get action in many cases.
So while I agree--that is not how the market in any stock works, so I think its ok to play along with the game. The risk you run is you get locked out on a quick run up.
Mark |
