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Microcap & Penny Stocks : HGRM--Any Followers? -- Ignore unavailable to you. Want to Upgrade?

To: Jim Burnham who wrote (1920)	2/18/1999 11:02:00 AM
From: Eric Fader	Respond to of 3576

Jim - My understanding is that EVERYTHING on the Bulletin Board must be called in to a MM, unless the broker either IS a MM or is willing to move the shares to or from its "house account." There is no OTC-BB "exchange" and nothing happens automatically. Also, 99% of the time, any BB stock with a price over $1.00 and less than $10.00 will show both bid and offer sizes of "5." That's the default size, and it generally means nothing. I agree that a large block of a BB stock can be tough to get filled, especially in the middle of a strange episode like we saw this morning, but it's not because of the bid or ask size. Of course, OTC-BB quotes are not "firm" quotes, anyway. A MM has the ability to back away from his quote without filling the order. -Eric