Sorry, but there is no message board for CyberNet�and since I started posting here I will stick to it unless something changes and YAHOO opens an own board for ZNET.
ZNET up in Germany 18% after 1 1/2 hours of trading, currently at 35,-Deutschmark...wow, let`s see where we end up today.
SCMM seems unstoppable..up again in Germany. When does it start to tumble ?
Presumably the MMs are holding some stock that they own with their houses but mostly I think they are merely trading every order that gets sent to market by an investor. In other words the MMs make money by churning the stock and capitalizing on the spread without really owning shares themselves. Of course they do go long and short at times. But according to Thomson Investors services Hambrecht/Quist and Cowen are not major shareholders (5% +) in SCMM. Hope I answered your question.
Read my post again. I have L2 so I know exactly what the MMs are doing. As for the 4 to 5 MM's you see, you're making a
mistake because INCA, ISLD and NITE are not MMs. In effect, they are electronic clearing houses. They are ECN's. In other words,
they're not "humans" but rather computers taking orders from various brokers. As a matter of fact, under your mistaken criteria, I
would be considered a MM since I have been both ask and bid on SCMM through my ECN, ISLAND. So....I guess my facts are checked.
As far as I can tell the MMs have not dropped out with the exception of one. I checked FirstQuote's service and saw 5 active MMs bidding on the stock. There was a sixth but they have not posted a bid since 2/24. Now I could have read the data feed incorrectly but I do not think so.
So, do not take everything you read at face value. Check your facts especially before getting worked up over something that does not appear to be true.
By the way, FirstQuote has a pretty cool quoting service that carries a 15 day free trial. You can watch the MMs live as they trade stocks. Also contains other live feeds.
You can find it at target=new >http://www.firstquote.com
This morning SNTKY, a British pharm. co. specializing in erectile dysfunction (no kidding), announced in the British journal of Urology that tests conclude that their treatment is 70% successful, much better than the 40%/30% rates of Viagra and VVUS/ZONA. I mention this here on the SCMM thread because SNTKY is also traded in Germany (the only place other than NASDAQ) and the news came out after the close of German markets. This is a heads up for the German traders on this board.
From YHOO SNTKY MB:
<<<<<< Nice to see you back - Kind of makes your new ID apt!
I wondered what happened to you.
Onkel_dittmayer is proving a valuable contact in Germany - I
should look out for his posts. Also anything from hamarti is
worth reading. Most of the msg are just swapping opinions
and keeping up our spirits while we wait.
Will certainly ask if anything from Germany is needed - thanks for the offer.
Today's jump to $3.75 on volume of 1.1 million was caused by
an article in a British Urological journal reporting
excellent results for Invicorp on a selected group of
difficult-to-treat ED patients - see hamarti's posts today.
I take the drop of MMs from this stock very seriously because they will not be allowed back in for another MONTH according
to the rules of NASDAQ. If anything happens in this next month that sends the stock dwn, they will have missed out on a huge
opportunity to make some cash. The fact that they dropped out has me worried as a short (though I'm not short now) because it means that
the risk of staying in, short or long, outwieghed the risk of missing out on a move to the upside or downside. In general, I
think this turn of events favors the longs if only because MMs don't trust the stock enough to stay in short. But if he worst
should happen, such as a dip in the German markets, there will not be MMs there to support the stock and it will drop even more
rapidly on the NAS. In short, less MMs make this a much more dangerous stock, as should be obvious.
Perhaps an uneducated postulate, but is it possible that the rapid rise in the stock price simply took some of the MMs out of their customer base? I simply do not know enough about that business to know if many MMs try to concentrate in stocks that trade in, for conversation, th $5 to $50 range and that when a stock exits that range they find their time better spent where they move the pasta?
You're absolutely correct that people can request their certificates and switch them over. (In theory at least, I'm not sure
about the restrictions which may exist.) But this is done so infrequently (houses and traders exchanging paper) that I tend to
typically disregard such a scenario. Of course, in SCMM's case it's quite possible that such swapping occurred, given that
certificates were called back by at least one shareholder/investment fund. I still say the volume however is very high for this stock.