To: Whipsaw who wrote (1843 ) 12/2/1997 9:14:00 AM From: steve goldman Read Replies (1) | Respond to
It is possible to go ahead and put a large piece on above the offer, hoping to lean on the stock and make it look weaker than it actually is, with the intention of removing your offer if someone starts buying the offered stock, before it gets to the "phony" stock. Nonetheless, you run the risk of a large buyer coming and taking everything, lock stock and barrell. I am sure it happens, I have seen it happen in stocks. All the time, mm's change their quotebefore they get exposed. It is much easy for the oTC mm's to do this than for a trader to do it with a listed stock since a large buyer can approach the specialist and take the wholeoffer and everything above it for xx 1/8s. OTC, you have to contact the various mms and as they each fill you and move, the others see you coming. Maybe you have 20 traders get on the phone at once, calling every market maker and simply taking their offer, whether it be at the current offer or higher.
