EQ -- you're not suggesting that there's a substantial open naked short position HERE, are you? I strongly doubt it. I watched, and participated in, today's MM activity, and it all seemed kosher as it generally has in the past. What does happen, of course, is when the volume picks up, the traders wake up and tighten the spread, knowing they can try to trade it for a few cents without getting stuck with shares when the volume dries up. Actually, they probably all start on the short side and then bid to cover, anyway. So maybe they get short as part of the trading, but I'm sure everyone wants to end up flat, or close to it, when the volume dries up.
The only other strange thing -- although I'm 95% sure I know exactly what it was -- was the sudden drop of all the MM bids in rapid succession one day at 2PM several weeks ago. Four or 5 guys seemingly inexplicably dropped from .19 or .20 down to .13 or less, if I recall correctly, after a single 7,000 share sell at .19 ($1,400? gimme a break). So something with an effective float this small will probably be vulnerable to MM games for some time yet, unless AHS helps support the bid. |
