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Microcap & Penny Stocks : 1ST MIRACLE GROUP (MVEE), founders last co. went $0.20-$46
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To: Banditjrjr who wrote (2110)1/29/1999 12:30:00 AM
From: CrazyTrain   of 5541
 
MM means Market Maker - This means they agree to make a market in a particular stock to provide liquidity. They are supposed to provide a bid and ask price for every market they are a MM in. Read the book "The Electronic Daytrader" if you want to gain some insight as to how the MM's operate. They will often sell shares they do not have and then try to cover at a lower price. They come out ahead 98% of the time in penny stocks. If they are short and have trouble covering then they will usually raise the ask price much higher and short more figuring they will be able to bring the price down to where they can make money. When you see the tight spread MVEE has had today (.001) it is a good sign of accumulation by MM's. They do not accumulate stock unless they think it will go up soon. This is my viewpoint and I could be wrong.
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