posted
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?
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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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!
posted
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.
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run... Posts: 8024 | From: Joisey....see attitude above | Registered: Jan 2004
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posted
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.
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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posted
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....
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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posted
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
Posts: 73 | From: Southern California | Registered: Dec 2004
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JRIV actually had the nerve to issue a positive press release the day the reverse split happened.... they're worse than serial killers
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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posted
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.
-------------------- Invest with your brain not with your heart. Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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posted
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....
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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posted
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?
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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posted
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!
Posts: 1835 | From: Boston, MA | Registered: Sep 2004
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posted
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.
Posts: 1326 | From: Providence,RI,USA | Registered: May 2004
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posted
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
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.
-------------------- Charts are like artwork, it's the same painting to everyone but each person see's something different. Posts: 3026 | Registered: Apr 2004
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posted
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.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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posted
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.
Posts: 1326 | From: Providence,RI,USA | Registered: May 2004
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posted
Plus the fact that pink sheet stocks are just traded electronically, so easily manipulated!
-------------------- Charts are like artwork, it's the same painting to everyone but each person see's something different. Posts: 3026 | Registered: Apr 2004
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posted
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.
-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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posted
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
-------------------- "IT'S NOT LUCK IT'S DAYTRADIN'"
"HERE'S MY 2 CENT'S, SEE IF YA CAN TURN IT INTO A BUCK" Posts: 5641 | From: Florida | Registered: Sep 2004
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