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Biotech / Medical : SANGUINE CORP. (SGNC) -- Ignore unavailable to you. Want to Upgrade?

To: LT who wrote (2394)	7/2/1998 2:27:00 AM
From: Mike Ankley	Read Replies (1) \| Respond to of 5402

LT - I think the MMs being overly eager to grab Omegaman's shares way above the bid, suggests they are lacking shares ... not hoarding them. This would follow from earlier posts made about the relatively small size of the available float (float minus those already confirmed to be tightly held). And then the big run a couple weeks ago where there were a couple 1M volume days, with buying exceeding selling 3:1 and 2:1 exchange2000.com and the price did not budge. Seems very possible, MMs were caught without enough shares back then, they implemented a momentum break: stopped raising price on buys. When volume died down, price came down sharply even though buying/selling ratio has still been greater than 1. And now MMs, as Omegaman tested and pointed out, are jumping at any opportunity to buy back those shares that they never had but still sold (naked short) at a price much lower than that which they sold. All this seems very much in line with the following copy of an article on the "Ways of a MM (Market Maker)" that were explained in detail by an actual OTC MM: Message 4654072 Cheers Mike