posted
I've been trading penny's for about a year, had losses (CSHD, FGFC, IPRE, RSHN). Had gains (BANY, APPI, XKEM). And have ended up about even...
However I've noticed that many of the penny companies are not putting out PR's or communicating with the shareholders during the Thanksgiving - New Years timeframe. In fact they seem to just be letting the pps's sink lower and lower.
Is this normal action for these pennies? Do they usually pick up steam in Jan/Feb? Seems to me that a lot of the companies are just waiting for the holidays to be over with.
In fact they seem to just be letting the pps's sink lower and lower.
Thats what 99.9% of pinks do all year round, its just during nov. and dec. they fall even faster
Usually the market speeds back up after dec. , usually the best months are jan-apr, but theres always good plays no matter what time of year it is Posts: 550 | From: MI | Registered: Nov 2005
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posted
The MM's have been holding pennies down hard this year and not letting to many run. I've seen buying volume go up yet the pps stay level, or even drop, at the same time. That spells MM manipulation. And I've never seen it run as rampant as it has since the big marketwide selloff in May. Something is up and the MM's know it so they're shorting pennies like never before. In fact the last 6 or 8 months have been a short sellers paradise in pennyland.
Personally, I think the market is due for a HUGE correction. And I mean HUGE. The DOW is way overvalued at 12,400 or so. Just like the dot.com bubble was in 2000. I have well into six figures in the market at the present time and I'm parking most of it on the sidelines until after the new year when things generally pick up.
This time of year is usually slow with low volume and lack of interest during the holidays. In addition, many companies aim to reduce their taxable earnings during this quarter. All of the above usually combine to let pps slide on most issues. That said, it may be advisable to stay out of the pinks & BB for awhile and see what the new year brings.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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