time to go back to real stocks for a few months... too many people worrying about their puny $500 investments causing too much volatility. No one holds overnite. All these companies reverse split, without shareholder approval cause they work it so their directors hold most shares or some crap like that. Then they issue a jillion shares more too. The mob is involved in a lot of this stuff too. Then theirs the whole naked shorting thing. The reverse splits irk me the most. They know shareholders will lose 99.9% of their money and they still do it. How can it even be legal?
Posted by betting babe on :
*shakes head*
i totally agree pick em low. the penny world has been a downer lately. im losing my zest for it as well. it's like all the honestly went right out the window.
good luck to u. still think you should peek in here now & again. you've had nice picks & there's still good folks lurkin!
~BB
Posted by lilpennypincher on :
It does suck........It's the pennys....I am only holding 3 as of now.........Most I hold for only 2 or 3 days anymore....That's the way the market works......Unless there is an uptrend,......then I'm holding longer....OR if I see potential.... I have to correct myself.. I have 3 that I am holding but,.....will take some profit off of the table at the highs....and re buy more on the dips... Good trading...... If you leave.....good luck to you....
I agree........R/S nothin' worse.....May as well smack you over the head with a hammer.
Posted by glassman on :
i just saw you pick jriv...two RSes in the last 6 to 8 months?
Posted by pick em low on :
I think I'll e-mail dateline about reverse splits and their impact. Basically, it allows a stock at .0001 that can't go any lower, to go lower, because the company really is not worth .0001 tims the billions of shares outstanding. Even that net worth is too high.
Later all.
Posted by pick em low on :
Yes glass they suck but I really thought it might pop back
Posted by pick em low on :
and I think they have a 3rd already authorized from what I read in SEC filings, but it's hard to tell if the Feb one was the one they mention as a "future" one in the late Dec filings.... anyway... I hate them all.... and so many of these scumbags are renaming the companies to hide past reverse splits....
Posted by glassman on :
it also appears that some co's have found loopholes in how to do it without filings too...HMMMMM...
Posted by glassman on :
FLA law apparently allows them to do it without a shareholder meeting...
Posted by pick em low on :
look at 52 week range 1.5 cents to $160,000
that really means what it says in percentage terms
you would have lost 99.999990625% od your money!
Posted by diceman on :
Ya too many companies are out and out scams and it is so obvious yet they are still able to r/s and change the name 10 times in a year
Posted by glassman on :
i try really hard to find REAL co's and bring them here...but they don't seem to get much attention...
Posted by pick em low on :
ya.... do that....
JRIV actually had the nerve to issue a positive press release the day the reverse split happened.... they're worse than serial killers
Posted by Ric on :
The thing is at least you know the penny market is full of it. But really the big board are full of it too. The only difference is they are better at it and if the do get caught they go to jail. (Enron for example). lmao.
But I do agree with you. The big boards are more stable. And you are pretty confident that over time you will get a return on investment. 10% average for long term. The thing with pnnies is that they are volitile. You get lucky sometimes and you lose sometimes. It is a gamble that can pay better odds then Vegas but also can burn you too. MLON is prime example on why you should nver hold them very long if you do decide to risk it.
Posted by glassman on :
part of the problem is that people don't want to sell the shares of real co's that they do have...the MM's are afraid to get themselves caught too short, so since the stock does not trade freely, nobody will "play" it...the traders end up trading crap and the good stuff just sits....
Posted by pick em low on :
and bid ask on pennys is kind of bogus too I think the MM's actually have a choice to fill you or not, different than NASDAQ etc. That's why you see the the bid ask change a lot all at once and no or few shares actually traded... and the MM's don't have to "show" all the limit orders... they can show you what they want on level 2 I think..... for example if someone ups the bid, they can choose not to display that on level 2... I forget where I heard all that... anyone know if this is all true?
Posted by pick em low on :
look at IDGC right now.... everyone seems insistent on selling at .0006 so now all the .0005 orders are drying up cause no one thinks it will get past .0006 so they give up and it falls.... self fulfilling prophecy....
HEY, HOW ABOUT THEY MAKE OTCBB MARKET ORDERS ONLY! THEN PEOPLE CAN'T ALL LINE UP TO SELL AND SCREW UP THE RISE!
Posted by pick em low on :
0007 it figures...... doh!
Posted by pick em low on :
My last comment of the day!!!!!
IDGC will pop big tomorrow morning if it closes strong today at a high....!!
Posted by ya ya on :
I will tell you why these companies go up a little to get the crowd all horny then go right back down,DAYTRADERS thats right i said DAYTRADERS.They don't hold stocks for more then a day or two.They pump it up and sell.Thats why sometimes you see a company come out with good news there stock price will rise and all of a sudden the price will go right back down.If people would hold for more then a day they could get more buys then sells and maybe just maybe they could slowly rise to where traders can make a good profit.
Posted by pick em low on :
I know... they need to be retrained to be "3 day traders"
Posted by pick em low on :
quote:Originally posted by ya ya: I will tell you why these companies go up a little to get the crowd all horny then go right back down,
me so horrnnyy.... me luv u long timme!
Posted by qnique on :
I feel you guys pain. I have just decided to walk away from stocks completely. I'm going to hold all the stocks I got now and not look at them for about 2 years and at that time, pull up my account and hope for the best. You can worry yourself sick looking at this screen all day. I'm thru with it.
Posted by ya ya on :
5 DOLLAR
Posted by glassman on :
i would not recommend walking away from any PENNIES...
try buying GE, or Ford if you want to walk away...
better yet? electricity
Posted by 1BigTip on :
Ironically I was feeling the same exact way lately. I just started posting again after takeing some time off, I figured I can get in the swing of things again but you know what?
Pennies haven't been treating me well in 2005 so far. 2004 was great but I might stick with "real" stocks myself.
There is just to many risky things going on out there lately. I need to find a reputable company, one who files, one who goes about things legally and professionally.
I don't even want to swing, daytrade, or look at most pennies right now.
it's not the luck lately, just the facts coming through.
I'll be lurking here and paying more attention to the "stocks over $1 board"
Good luck.
Posted by Upside on :
But that's what this market is geared for, daytrading. With very few exceptions these companies aren't worth the paper their shares are printed on. Are you really going to buy and hold any of these? That's inviting disaster.
Posted by ya ya on :
qnique - when you come back do you know what's gonna change - NADA - except you will have a lot less shares from all the R/S.
Posted by 1BigTip on :
Plus the fact that pink sheet stocks are just traded electronically, so easily manipulated!
Posted by bill1352 on :
now you can't say all of them r/s...look at cmkx, they just keep printing more. put out flyer's to sell the stock, paste ad's on race cars to sell the stock. pay morons to pump the stock like green baron. in fact i'm waiting for the change in business pr...couldn't find diamonds but found tree's on the claims for cheap paper to print more shares.
Posted by qnique on :
Speaking of being away for awhile, whatever happen to Diana(reality I think was her allstocks name)?
Posted by Ktrain420 on :
people if you look at one of Bob Frey post's that he posted awhile back it say's he has been in this penny market stuff for a long time he said from all of his trades from the early to late 1980's he looked at all the company's that he had traded and not ONE of them was still in business!! these are not long hold company's this market is set up for DAYTRADING.....who the hell know's if these people are in there damn shed starting some BS company and put it on the otcbb market, nobody does......PENNY'S ARE FOR DAYTRADER'S .....the BIG BOARD IS FOR INVESTOR'S ....if you want to hold, this is not the place for you!!.....this is just my opinion and GOOD LUCK TO ALL
Posted by Grynder on :
no different than putting yer $$ in a slot machine.....
at least casinos give free drinks : )
Posted by glassman on :
more like roullette IMO
Posted by Ric on :
And sometimes russian roullette, lol
Posted by Grynder on :
quote:Originally posted by Ric: And sometimes russian roullette, lol
with a fully loaded gun........
LOL
Posted by TonkaToy on :
quote:Originally posted by Grynder:
quote:Originally posted by Ric: And sometimes russian roullette, lol
with a fully loaded gun........
LOL
Try not to use a semi-automatic. Usually those that go first lose. =]
Posted by boised on :
quote:Originally posted by Grynder: no different than putting yer $$ in a slot machine.....
at least casinos give free drinks : )
DOn't forget the women!!!
Seriously day trade pennies using the MACD lines.. you will come out on top as long as you have some basic dd on the comp.
Posted by 1BigTip on :
Nice post KTrain! Some people get emotionally attached to a penny stock. I believe you can make big money with it, I have, I just need a break from it for a few months.
Set a goal folks, take your profits, and move on to another.
I had someone ask me once if they should sell a stock that they were up about 50% on in 1 day and I told them of course you should and dont look back. They didn't, and the stock dropped past his buy in price and he ended up selling for a big loss. $10k loss! Take your profits even at 20%!
Learn to daytrade. Ok, I'm done.
Posted by boised on :
Here is a secret of the pennys for day trading:
Using the MACD line you can see when a reversal from uptrend to downtrend or the reverse is about to happen:
This is also great for some bad news hits and a run off is going on like FMDAY Yesterday as you can see the entry and exit points for a dead cat bounce. Let me know if you want grafix of that too.
GLTA
[ February 10, 2005, 18:36: Message edited by: boised ]
Posted by 1BigTip on :
boised, I am a 100% believer in charts, it's how I made my money in 2004, Yes even in pennys. That's one hell of a chart. Wish they all were like that. lol
I use the bollinger bands to tell me whats happening. Need to look more into the MACD.
Am I still here?
Posted by ecp1976 on :
1BigTip, I totally agree with you. Yes there are scams out there and yes a lot of these pennies are run out of some guys basement with really no net worth but it doesn't mean you can't make a little money. You are correct in saying "take your profits and move onto another" even if the profit is only 10% and you'll pay Uncle Sam 28% of that. Example: if you had $1000 and traded a penny and made $100, it's still $100 you didn't have before right? To me that looks like free money for reading a few web pages and clicking a few times with your mouse. Tell me if I'm off base here but I don't think I am. I have no problem making a few of trades for a few bucks here and there because at the end of the day if I'm up $2000, it's $2000 I didn't have before I started. I'm not hoping for the huge fish, a bunch of small ones will still feed my family. Get in, get out, don't look back, say thanks for the profits and take yor wife or girlfriend to dinner. You might not get the world overnight but if you work hard enough at it and do your research, you may just get it in 10 years. Patience is a virtue! Regards, ECP
Posted by boised on :
Use quotetracker my friend all the tools you need at the touch of a button. Its time for us work a day slobs to take back the market from scammers. Most of these pennies are scams and I would never hold I would rather take small wins with small gains as I will come out on top much faster. Remember the key to the MACD is volume also.
In interfaces directly with my ameritrade account so I can trade using quotetracker instead of needing a ton of buggy/slow Internet explorer windows opened. Level 2 is right there too, as well as newsfeeds, daily charts, historical charts.
Wonderful stuff.
Posted by lilpennypincher on :
She's around....Just check what's hot or runnin' and she's on it. LOL
quote:Originally posted by qnique: Speaking of being away for awhile, whatever happen to Diana(reality I think was her allstocks name)?
Posted by Pennies to Dollars on :
quote:Originally posted by lilpennypincher: She's around....Just check what's hot or runnin' and she's on it. LOL
quote:Originally posted by qnique: Speaking of being away for awhile, whatever happen to Diana(reality I think was her allstocks name)?
Hey Lil, tell her to come back to Q land! I'm curious to know what her thoughts are on our beloved network these days!
Posted by vclimber on :
I use it. Nice charts! L2 and everything you need to be up and running. It even works when Ameritrade is down.
quote:Originally posted by boised: Use quotetracker my friend all the tools you need at the touch of a button. Its time for us work a day slobs to take back the market from scammers. Most of these pennies are scams and I would never hold I would rather take small wins with small gains as I will come out on top much faster. Remember the key to the MACD is volume also.
In interfaces directly with my ameritrade account so I can trade using quotetracker instead of needing a ton of buggy/slow Internet explorer windows opened. Level 2 is right there too, as well as newsfeeds, daily charts, historical charts.
Wonderful stuff.
Posted by whizknock on :
quote:Originally posted by glassman: part of the problem is that people don't want to sell the shares of real co's that they do have...the MM's are afraid to get themselves caught too short, so since the stock does not trade freely, nobody will "play" it...the traders end up trading crap and the good stuff just sits....
You're right! And that includes a stock you menyioned not long ago that I also like. It's got alot of real potential but falle in the catagory you just mentioned. I continue to keep my eye on PJTG but will wait until momentum is there. I'ld like to catch it going up & them sell enough that what I hold as a core will never cause me concern because it would be paid for. Any company that has a solid working relationship with MSFT & has revenues is likely not a scam.
Maybe I'm foolish but I'm still holding a couple where I've done exactly that. I'm not finished with pennies but I'm going back to momentum investment. It's always worked for me before.
Posted by Namoper150 on :
Wahhhhhhhhhh... I lost money playing the pinks..........wahhhhhhhh.... reverse splits, dilution, scams ..........wahhhhhhhhhhhhhh
"You win some, you lose some, but you keep on fighting." - Gordon Gecko, Wall Street, 1987
Go NCDP!
Posted by boised on :
quote:Originally posted by whizknock:
quote:Originally posted by glassman: part of the problem is that people don't want to sell the shares of real co's that they do have...the MM's are afraid to get themselves caught too short, so since the stock does not trade freely, nobody will "play" it...the traders end up trading crap and the good stuff just sits....
You're right! And that includes a stock you menyioned not long ago that I also like. It's got alot of real potential but falle in the catagory you just mentioned. I continue to keep my eye on PJTG but will wait until momentum is there. I'ld like to catch it going up & them sell enough that what I hold as a core will never cause me concern because it would be paid for. Any company that has a solid working relationship with MSFT & has revenues is likely not a scam.
Maybe I'm foolish but I'm still holding a couple where I've done exactly that. I'm not finished with pennies but I'm going back to momentum investment. It's always worked for me before.
A good ol MOMO plays ... MACD is perfect for such plays as volume will be high for a true momo play.
Posted by DOUBLE L on :
You big cry babies.
Posted by vclimber on :
LOL- Gordon Geko was a ficticious character in a movie. I bet he didn't play pinks!
quote:Originally posted by Namoper150: Wahhhhhhhhhh... I lost money playing the pinks..........wahhhhhhhh.... reverse splits, dilution, scams ..........wahhhhhhhhhhhhhh
"You win some, you lose some, but you keep on fighting." - Gordon Gecko, Wall Street, 1987
Thanks Boised that was a cool chart.
Posted by will on :
Bye, be well, good luck!
Posted by boised on :
quote:Originally posted by vclimber: Thanks Boised that was a cool chart.
Download and setup quotetracker and watch some stocks tommorrow... you'll be amazed at how the entry/exit points show up in the MACD line.... as long as there is volume and movement... if the stock flatlines all day then MACD won't help much.
Avoid boilenger bands... all it does is show the split that can be seen on Level 2's. I learned the hard (costly) way with TASR way back.
Posted by Marty on :
Wow....interesting stuff....here's something I found you might like:
i've been selling of all my pennies ones by one. Today I got ripped off when I sold my itdj. Put a market order for it and it was sold at .00002. Four phuckin zeros. This is the kind of bullsheet thatI'm tired of.
Posted by Marty on :
compound, I didn't think a stock could trade below .0001?? I would contact your broker on that one...
Anyway, NEVER put a market order on a penny stock. Always a limit order. I tried a stop limit with a penny once using Etrade, and it wouldn't take....said the stop had to be .05 below current price...
GL
Posted by Ric on :
Sure they do. The MM's play in 5th digit. They may sell a stock to your broker say for .00038 and your broker sell to you at .0004 and makes a little prifit. Also try and sell some of these stock at .0001 on limit and not go through? if you sell at market it may sell at .00007. Most brokers software will not display 5th digit sells though. It is actually how some of these free brokers make money.
quote:Originally posted by Marty: compound, I didn't think a stock could trade below .0001?? I would contact your broker on that one...
Anyway, NEVER put a market order on a penny stock. Always a limit order. I tried a stop limit with a penny once using Etrade, and it wouldn't take....said the stop had to be .05 below current price...
GL
Posted by denzen on :
I have to say I've been trying to time my exit from these pennies also. The runs seem to disappear so fast lately. Considering energy and water related companies under $5.
dz
Posted by Marty on :
Thanks for answering that Ric.... One more, so what is the absolute lowest number a stock may trade at? (Other than 0 of course). Thanks...
Posted by Ric on :
I have only heard of one as low as .00004 so I would assume it could go to .00001.
Posted by Marty on :
interesting.....thanks for that Ric...certainly enlightening....GL
Posted by Marty on :
might also explain the millions of shares of CMKX that transfer and show as .0001 - .0002 for the trades range...thanks...
Posted by vclimber on :
boised you have a PM
Posted by Ric on :
Well actually cmkx is a good example. Every now and again you will see bid at .0000 and ask at .0001. well the bid isn't actually 0 its in the 5th digit but most every streamer only show 4th so its displayed as .0000
If you can buy any subpenny for .0001 the MM's got it for less. MM's make money on the spread so they will never sell you a share if they can't buy it cheaper.
Posted by Marty on :
yea, now that definately makes sense....it's a good topic and something to be shared on these micros....VNTN was a good example the other day that had a bid of 0000 and ask of .012...0043 60 day MA.(I think)...now it makes some sense...I've seen others too, and didn't quite understand what was happening....I think I'll only play at .001 and above....leaves some flexibility...BTW, maybe you want to share some of that insight in a new topic? I think alot would appreciate it....I know I do ..thanks again Ric....
Posted by Marty on :
BTW, I'm researching some of the "Dirty Tricks" and practices with OTCBB stocks for further insight. Here's one that was kinda' interesting: http://www.taylorstock.com/OTCBB2.html
I'm compiling a list of such topics, and hope to produce a "summary" of the info found, in a readable fashion. I'm certainly learning alot from the research. Do's and dont's, TA signals, for various investing techniques, MM signals, Blues, Mids, smallcaps, micros, etc....I'll post my findings when completed....I've got the "bug" for learning now, since pennies are so different GL
Posted by boised on :
DAM!!! Did ya see it this morning!!! GTEL lowest at .30 and hitting .32/.33 ALL CALLED BY MACD
I love this shtye!!! Posted by boised on :
I hope you all followed my advice on this one.. if not don't worry Monday will be the same
MACD is starting to stall now at .337
Posted by boised on :
MACD is moments from crossing which means i'm selling ... it can go up but who cares i made my 224 today which is 224 i didn't have an hour ago.
enjoy Posted by boised on :
Ahhh just like MACD predicted here comes the downer Posted by 1BigTip on :
Hey boised. You have your way & I have mine. I don't know about your past but I'm ready to challenge you. We'll call it Bollinger vs MACD.
If you look at my posts from last night/this morning, GMTH, PWTC & you will see that my stocks went up 75% and 22% on the day..
One thing we both agree is that charts are the art of trading..You need to know what your looking at before buying.
Posted by boised on :
mmm yes the key to MACD is Volume.. as the real day traders are watching the MACD and moving heavy volumes based on the MACD lines.. I just follow the leaders
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