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Microcap & Penny Stocks : PKGP (Packaging Plus)
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To: TraderGreg who wrote (1228)5/13/1998 1:24:00 AM
From: Qone0  Read Replies (4) of 4783
 
MM volume,

IOM this is the oldest MM trick in the book being played out here.

(1) huge volume,no price movement,tight spread.

(2) convertable debentures the company says has already been sold into the float,bringing the price down from 1.00 to .05.

The answer to me is this: There is no huge volume, the volume is mostly made of MM to MM trades. This is why the spread is so tight. These MM to MM trades make it seem like there is huge volume. This huge volume with no price movement makes investors nervous. Some will start to say" somethings no right here,they must be dumping shares into the float." This starts the panic selling and the MM cover their short on the convertable debentures.

If you sell now the MM's just laugh at you. If you hold tight they will have to cover at the price you want,not at the price they want.
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