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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: drjoedoom who wrote (23)	8/9/1998 11:10:00 AM
From: Mama Bear	Respond to of 1438

"The guy who spent more than $1.1 MM (303,000 shares at 3 3/4) on HEC late Friday isn't an investment newbie." How can you be sure of that? People come into fortunes regularly. Some folks in Illinois won over $100 million in one chunk in the powerball a few months ago. On the other hand, how do you know that it wasn't a buy to close position? Another thing to consider is that with a lot of the OTC junk stocks that do these floorless deals, no uptick is required, just a willing buyer on the other side of the transaction. Nasdaq Small Cap market has no uptick rule, and even on the NMS the mm's can short on a downtick. As far as finding willing buyers, didn't somebody famous once say they're born every minute? Barb