To: R.E.B. who wrote (6786 ) 6/9/1998 12:11:00 PM From: Ice Cube Read Replies (1) | Respond to
Fahnstock yes, SHRP no. A friend of mine is a trader there and they simply don't do it unless they are directed to by a client. Fahn and the Fiero Bros. usually trade together on the short side. A MM is a combination broker/trader all in one. That's why I use them. Anyone can open an account with a MM if your trading volume is worth the time. Just because you see them on the offer does not mean they are trading for themselves. It could be a guy in Toronto directing his trading, i.e., liquidating a position or shorting against the box or simply "renting stock" for a week or so and never having to pay for it (which is legal in Canada, but not here, or if you have a good banker, simply short the position. I could go on and on, but I won't piss any more people off. Also, money can be made by trading against restricted stock. The float stays the same, but a ton of money can be made. I am not saying it was done here, I am just posting this for informational purposes only. If you can pick up some info that helps you in your future trading, great! I have no idea where this stock ends up. I trade without emotion and focus on the STRUCTURE of the deal more than what they do. You see, markets are created. If the structure is right, I up my odds of making money. This stock reminds me of the way BAAT and IDID traded. They take on a life of their own for a short period of time when EVERY player comes into the deal to try and make money. The huge volume was not a because people thought the company was great. It was because it was a great trade. What you are left with are the true believers, and a lot of people who are looking for a way out of a losing position.? That's going to be the overhang if and when this stock goes back up - there a plenty of people waiting to get out with their money.
