quote:Originally posted by tmanfromtexas: Sorry Jim, you cant buy into this. I have already and you KNOW what happens when we both enter into a stock. lol. Is it really cold there yet. Its almost 50 here. TMAN...
I'll stay on the side line for both our good tman. Your in the middle of a heat wave, f'n -6 degrees this morning so it's a tad nippy.
-------------------- If ignorance is bliss, why aren't more people happy?
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posted
Not good things. We seem to carry some sort of curse that dooms any stock that we both hold. I stayed out of BANY yesterday and it worked out fine. If I would have bought, the toilet would have flushed.
-------------------- If ignorance is bliss, why aren't more people happy?
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posted
Yeah Jenna, when Jim and I team up on a stock it kicks our ass. lol. fgfc, gllc etc. lol. I appreciated you staying out of bany and letting me make a few buck ole buddy. lol. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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posted
I just did a test. It looks like my orders are being routed through NITE for both Scottrade and ChoiceTrade. I did a 500 buy for $2.25 on my Choicetrade account and it moved NITE on Level 2, then I did a 500 share buy at $2.30 from my Scottrade account and it moved NITE again.
I changed 1 to a bid of $2.05 and cancelled the other. So if you see someone get filled at 2.05 it should be me.
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posted
Well, they were the ones on the ask at $2.75 and $3.00 the last two days. You never know which broker they were representing though.
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posted
Okay I just e-mailed the company back and flat out asked them if they were the ones that sold any of the 45,000 or so in volume the last two days. I'd be shocked if I got a response, but will let you know if I do.
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posted
I haven't been reading the thread...but did the company to a R/S and then take the shares and sell them back into the market? As PC seems to be suggesting...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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Option 1) some broker(s) screwed up and didn't update share counts, so someone that had, say 5,000 shares on tuesday was supposed to have 20 shares on Wednesday, but saw that on Wednesday they still had 5,000 shares and dumped them for $2-$3 and a huge profit. but unbeknownst to them, they, or their broker will have to buy them back at market value.
Option 2) the company dumped shares and doesn't care that they decreased shareholder value by 99%+
Option 3) an individual investor dumped $7million worth of stock for $60,000 on Wednesday
My opinion is that the probabilities are about 49.95% option 1, 49.95% option 2, and .1% option 3.
So to me, it's wort the downside risk of losing 50-80%, given the upside of a 10+ bagger.
Granted given the available info, I have to confess that as of yesterday I would have put the odds at more like 80%/19.9%/.1% since it appears that the company is completely clueless, I am seeing a greater chance that it is option 2.
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posted
Well it was just 1 person selling 350 shares that they probably bought yesterday but today decided to take the loss and don't believe in the R/S screw up anymore. But I wouldn't put any stock into that, as like I said, it was just one person. If you see the volume start to go crazy and the price keep dropping, I'd be more worried, but as it stands, I'm still holding all of my shares.
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posted
This might be a dumb question but why isn't this being addressed by the company....Can't they or the brokers or MM's get in trouble? How do they do a r/s without adjusting the price? Is this soemthing that the SEC would be aware of?
-------------------- ..just remember....Family is EVERYTHING!!
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Well, from what it sounds like in various replies from the comapny, they don't care. That's why I say they don't understand what they are doing.
The one thing that Dean said that is true is that the market determines the price. It's just that in this case the price was artifically lowered from $230 a share to $2 a share by someone selling enough shares that the supply far exceeded demand. That would happen in one of the two ways we've been discussing, either a R/S screw up or a company share dump.
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posted
I'm not watching L2 either, but the volume was 1250 then went up to 1600 on the $1.70 trade, so someone sold 350 shares. It's now back to $2.50 because someone bought 200 shares at the ask. Unless you're going to get really excited every time a single person buys at the ask, there's no reason to get scared when one person sells at the bid
For all you know, I could have done it just to f*** with your head. (Of course I didn't, but realize that that's exactly how MMs play games with us)
quote:Originally posted by Jenna: OK....I wish I had L2's but I don't so could you update the thread every once in a while? Thanks....
posted
I agree with PCola77 mostly. I don't buy that the company does not know anything about the market or does not care about PPS. They have positions in 10 OTC companies. IMO either they dumped shares or brokers messed up and sold pre R/S shares. I am hoping that the latter is the case due to the post. However everyone here knows how much faith to put in these CEOs. Call me foolish I am betting on the last option. It will be fun to watch and could not stand not being involved.
-------------------- Must be an easier way! Disclaimer: Don't buy or sell on my advice I am not a licensed broker.
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