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I don't trash MM's. They have to eat also. This is not about personalitis, it is about business. I have said before, and will repeat it, that the nasdaq BB system is at best archaic and at worst illegal. MM's are people just like us, some good in them, some bad. They are businessmen. But the system is terrible. It allows exhorbitant margins, stock price fixing, and naked shorting without ever having to cover. Speaking just for myself (which is what I always do), I can not fluff this up, I have to remain honest to myself. And I still maintain that company fundamentals is the most important thing. The MMs can do whatever they want within a questionable system, but they can not change a contract with the State Department, with IBM, or with whatever else is coming. If the MMs choose to keep the price at two bucks forever, that's fine, I will make a killing off of this company's future We would have a microscopic price to earnings ration and price to book value! |
