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To: TsioKawe who wrote (19410)6/3/1999 11:56:00 AM
From: RidgeRunner  Read Replies (3) | Respond to of 40688
 
The excitement builds! A story... and a question.

I bought another 6,500 shares yesterday and a very unusual thing happened that I want to share with everyone: I really wanted more shares, but because PNLK is an OTC BB stock I knew that to place a market order would be foolish. So, I went ahead and placed a limit order at 3&7/16 which at the time was the "ask" price.

You will never believe what happened! I got filled BELOW my limit price at 3&13/32. Now you might expect that to occur on a listed stock with high liquidity. But, for the MMs of an OTC BB stock not to take the extra piddly 1/32 is amazing. In the past they would simply have filled the order at the "ask" which coincided with my limit price. My point is that the market for PNLK seems to have developed into a more level playing field. With many more MMs (someone recently said there were 56 of them) peddling PNLK, we may finally be getting some fair treatment. The manipulation must now be less overt - too many eyes watching.

Anyway, I take this little event to be good news and a sign that market forces may now be paramont instead of the whims of a few MMs.

Now for my question: Does anyone on this thread keep a running count of PNLK BUY versus SELL volume for a week or a month or whatever?

I'm very curious as to the relative balance between the two in the last month or so. If buy volume exceeds sell volume by say 2 to 1, then the MMs have had to be selling stock to satisfy the buyers. That means that the MMs have either sold from their own inventory OR they have in effect been selling short in order to meet buy order demand. If they have been selling short for some time to meet this demand, then their exposure is huge if the stock were to rally dramatically next week when new investors take a look at PNLK as the ad campaign gets underweigh. If that is the case, then we will surely see a shake-out in the next two days as the MMs try to reduce their exposure and even up their books at a lower price in order to avoid getting killed on a run up.

Anyone got any thoughts on this?

RidgeRunner