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Technology Stocks : Lance B's : Its A Beautiful Thing -- Ignore unavailable to you. Want to Upgrade?

To: Aj-Ruk who wrote (3045)	1/20/2000 5:31:00 PM
From: Tom Allinder	Read Replies (1) \| Respond to of 4792

More on MMs and orders: 9 out of 10 times or 99 out of a 100 times an order is routed in a timely and correct manner to the broker and then to the MM... once the order is received by the MM, he does NOT have to fill it... I have been told that an MM has to fill a market order. I have seen many times when they did NOT fill a MO or held it and filled at a higher price... once a MO is launched, it is very difficult if not impossible to cancel... on the other hand, a LO can be canceled easily. Once you hang a MO out there you are at the mercy of the communications system of the routing vehicle then even worse, at the mercy of the MM. Also, many of these OTCBB stocks are minded by evil MMs... There are many evil and crooked MMs out there. I have seen stocks of many GOOD OTCBB companies ruined by MM practices. One instance of MMs ruining a stock can be as follows: An MM or two gets the stock short... then is hit with volume on the buy side... the MM may call the company and ask for more shares. If the company agrees, the MM now has some or all of the stock to cover his short. If the company has been hosed by the MM before, the company may refuse the stock to the MM. At which point the MM may get help from his other MM buddies and walk the stock down or refuse to let it move up on buying. MMs may also pass stock around amongst themselves on the bid price to create the impression of selling... then all they need is a few real sellers and they begin to collapse the price structure of the stock which leads to a full blown panic. On the way down, all those MOs get held up and are filled at the bottom... the MMs buy all the shares back (this is when I am buying too) much cheaper. This happens several times a day on the OTCBB. Many times it is MM initiated selling which leads to the collapse. Tom