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no that's not how shorting works - when someone shorts a stock they sell shares they don't own. So they are basically borrowing the shares. Say the price is $10 - but because they don't own the shares they are borrowing them and have to return them. When they return the shares (cover their short position ) it is in their best interest for the price of the stock to be lower than where they sold it. So say that stock went to $8 and they covered there, they made $2 because when they returned the shares it was $2 cheaper from where they sold short.
one more question about shorting. i have heard of it and some what know what it is. how do you make money on shorting a stock. doesnt short sell me sell a stock you dont own? example ill use emll. they were trading at.001 if someon ecame along and tyed to short it down to .0006 but dont own shares only thing i can think of is they short it down to .0006 then they have to buy it at that price for amount of shares they shorted in hope it will go back up to .001. am i correct?
1st off, make sure you have a margin account and not a cash account. By doing this, the proceeds don't have to wait three days. You can use those funds to immediately buy another stock with the proceeds from that sale. If you have a cash account, you can use those funds to purchase something else but you can't sell the replacement stock until those funds clear (3 days later).
2nd you will need at least 25k in your account otherwise you will get caught up in the daytrader pattern rule which says that anyone with under 25k in their account cannot trade more than 4 daytrades within five days. If you have over 25k there is no limit to the amount of daytrading - you can do as many roundtrips as you like.
I explained here to someone else:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64329208&txt2find=25k
i have a question about day trading. im fairly new to stocks only been trading for 4 months. i have noticed alot of people make money day trading non stop buying and selling same stock that day or next day etc. how do you day and trade what do you need. i tryed it when icbt was doing its runs. everytime i baught shares real low and tryed selling high scott trade wouldnt let me sell they said they would fine me then suspend my account. so exactly what is day trading and how do you do it im interested in learning. thank you T.J.
Sometimes I wonder if the RS "effort", is to decimate the lowly shareholder only, yet "preserve" the trade in value, of pref shares, held by the owners. I was under the assumtion also, that a RS involved the entire SS, and all categories within. I guess it can be for only "part" of the SS........
It is a market maker: PUMA=Puma Capital, Llc
http://pumacap.com/about.html
Hi I've been reading intently the thra board past week. The mod posted a few days ago - "watch PUMA, if it's over we should glide up fairly easily this week"
Any ideas on who or what PUMA is?
Hey everyone Im new here this board looks interesting
"Slap the ask!" Is that basically telling bid sitters to stop trying to get below the ask price and buy at the asking price?
Yes, the same way people who get all bent out of shape when someone sells at the bid and they call them bidwhackers.
"We still have some .0007s. 0008s coming up." What do they mean? The amount of shares at .0007 being sold before the stock price move up to .0008? What determines if a stock rises or falls in price?
I'm not seeing the stock you are referring to so I would assume that is the next amount on level II. What determines stock movement are several things. First and foremost the more buying will help uptick it and the more selling pressure will downtick it. But there are many other factors. News - a pr that has good positive news will move a stock and one that has detrimental news, such as chapter 11 will drive it down. Dilution where they issue too many shares will drive the price of a stock down too. A filing that comes out before news could drive a stock price in either direction. Volume on a thinly traded stock can get it moving. There are so many factors.
When I read some posts, I see posters saying things like:
"We still have some .0007s. 0008s coming up." What do they mean? The amount of shares at .0007 being sold before the stock price move up to .0008? What determines if a stock rises or falls in price?
"Slap the ask!" Is that basically telling bid sitters to stop trying to get below the ask price and buy at the asking price?
When a company does a reverse split they do not have to reverse the authorized. Some companies will reduce the authorized when they do a reverse split but they are not required to.
I have a question. If a company does a reverse split from 14 Billion to 14 Million outstanding shares and they had 20 Billion A/S, does that mean that they can technically still release 20 Billion total back into the market?
I was thinking once a R/S takes place, the total shares available period drop. Is it really that the A/S isn't effected unless the share reduction is a reduction of the A/S and not the O/S? If my new understanding is correct, I now know what posters mean when they say "wash, rinse, repeat!" and this will change my perspective greatly with speculating...errr..."investing" in pennies. In addition, I would have a better understanding of why some people say some penny company "executives" are thieves as this seems like the perfect, and unfortunately, legal scam until the system changes or people stop speculating...errr...investing in them.
Do you have a margin account or a cash account?
That's up to your broker. Could be he will allow you to "wire" funds to make up the deficit, or they could sell enough shares "at market" to add cash to your account, and hound you for the rest.
But you have to have a phone conversation with your broker, ASAP.
What happens if electronic deposit returns NSF and you have already bought stock with that deposit?
Always go by the broker account (E-trade and look at the last price column) no matter what. Ihub pricing isn't hardly never right, especially if its after-hours. Most of the time a stock closes at 0.31 on etrade and ihub will show it at 0.28 or something weird. Sometimes the L-2 will look different if its after hours because the MarketMakers dissapear from the L-2 list but when morning comes the MM will fill back in their correct spots!
AABA ILLEGAL SCALPING MANIPULATION
I have been following him the last 3 trading days and 2day will chart his buy and sell orders w/ time, price and share size 2 report to the sec (been busy vaca at thailand visiting girlfriend)
using his level 3, aaba has been illegally buying on the bid and selling those shares back to us at higher price forcing us at this bottom range and making huge profits scalping while shorting this down
**he has been playing headsup poker with the shareholders, but he can see our 2 cards while we cant see his.
ON THE BID SIDE
----------------
AABA, when there is more selling at the bid & no buying volume on the ask volume, will try to sit/wait under the other buyers and fill his shares. he will also at the same time be on the top of the ask to pressure the selling. he knows exactly where to sit at what price and how many shares because he knows the total amount of shares and at what people what 2 buy with his level 3.
when selling slows down on the bid and people start buying on the ask or no volume/trading, he sit/jump on top of the bid to grab all the shares
AABA acculmilates all his shares at these low prices. price goes down and and selling slows
ON THE ASK SIDE
-----------------
when there is alot of ask buying he will sit in the middle to sell his shares he bought cheap so he can get the highest price/scalp profit he can get. he knows that he will get filled because he knows the total amount of shares and at what price people want 2 buy with his level 3.
when buying on the ask slows, he will instantly drop below the last price sold on the ask to pressure the selling and block from price going up . he will be at the lower price on the bid to get cheap shares again....rinse and repeat
because of AABA scalping we cant go up whatsoever. he has fraudulate "endless supply" of shares because he is continuously replenishing his share amount by buying on the bid and selling those shares back 2 us higher on the ask. sh!t, AABA can be doing this crap with only 500k shares!
EVERYONE KEEP A KEEN EYE ON AABA ON LEVEL 2 TODAY
Also, unless he is running on a premium plan of some type, there may be a delay.
probably two different quotes because it was a weekend - if it happens during the trading day then you need to be concerned that one is wrong
Shorting is necessary to keep the market liquid - you decide what the answer to your question is. lol
Hey guy you can help me. IHUB is saying for the stock ask is on .257 and then on my etrade it says ask is @ .29?? But when looking at l2, it shows etrade sitting at .257. So on l2 it's different from ETRADES website.
Which one is right lol
I am subscribed to the ihub Level 2 service. Where do I find details for the color coding and other depictions used on the display? TIA for your help.
The one I use does have a back tester and you can customize it, but it is mainly for technical not fundamental analysis. I just did a google search and came up with this - don't know if it is good or not:
http://www.tradetrek.com/education/ai/ai_stock_trading04.asp
I need a back tester and screener that uses fundamental analysis with custom screens and user defined variables. I was wondering if anyone knew of one.
Sorry, not the board for this. It is not a stock picking thread.
Sorry, I think this is the wrong site to post this.
At the top of the page, where it says, "Data Tools" there is "Charts." I haven't been able to see any data in Charts, for awhile.
Thanks
I don't think you can use private reply when you are a free member.
See? I told you she was good. Lol.
thanks cintrix for some reason i cant do private reply lol. but yeah i will def be careful with those from now on and i will talk to my broker cause it was a day trade but it was cancelled during the same day. anyway Thanks and GL.
Ok, what you need to know is this: Just because a stock hit your price order, that doesn't guarantee you a fill. That goes with a buy or a sell. That is why paper trading is a joke. Anyone could paper trade because they are assuming that they are getting the fill at the price they wanted. In real life that doesn't always happen. Finding a stock at the right price and selling it at the right price is not the only task. Getting the execution could be even harder depending on the way a stock trades. Especially with thinly traded stocks as you mentioned.
As far as the trade getting canceled, was it canceled mid day or at the end of the trading day? If it canceled the end of the trading day I would guess that even though you thought you entered a gtc, you may have mistakenly entered a DAY order. If it canceled midday, I would get on the phone with your broker and ask them what the heck is going on. Unless the stock was halted or went into the grey sheets I see no reason why they would do that.
alright thanks man you too
Well, just be careful with low volume stocks. Cintrix would probably be the best person to guide you in the right direction. She is the Master with these types of trades. GL & have a great weekend.
im kinda new maybe only 50 trades. im just concerned about these low volume stocks especially if I can't sell when I want.
Have you traded a lot of penny stocks in the past?
Who's your broker?
The .10 stock, I agree with that not being filled, however a GTC order being canceled for no reason is an issue. Please don't tell me your broker is TDAmeriturd.
I've placed a limit order at .10 for a stock with 14,000 volume and it never executed when .10 was hit. I also placed a sell order at 1.93 for a stock with similar volume which also didn't get executed and actually got cancelled for no reason even tho it was gtc. Should I just stay away from these stocks with low volumes? How can I be sure my orders get executed? Is this my brokers fault or not?
How to become a moderator?
I am new, but I can not find where I sign up to be a board moderator; no links to, or help info/instructions (easily found) under FAQs
Has anyone heard of a proptrietary equity trading company by the name of Onyx Equity Traders. They primarly specialize in options trading. I was wondering if anyone has an opinion about the firm.
TIA
did you ever get any help with this?
i found this:
http://www.penny-stock-brokers.org/penny-stock-screener/
i'm just setting up my EF account with come cash ready to hit the news filters for some quick flipping. i used EF years ago and it was awesome. looking for some updated screening material though.
will my ask bid be honored due to the fact that my ask bid was correct at the time of my order being placed or do I need to raise it when it changes.
Not sure what you mean "correct" - there may have been ten other people putting in an order at that price at the same time and maybe ten more who put it in a tick higher to make sure they get filled. The mm only has to fill you at the current ask. If they have shares they want to get rid of below the ask then you may get filled. Depending on the supply and how fast or slow it is moving.
Also, how does the bid/ask change premarket if there's no trading them then?
If a stock comes out with good news premarket they usually always uptick it in anticipation. Sometimes it will uptick and then crash because either retail or the company sells into it. Sometimes the opposite happens - they uptick it premarket and there is a buying frenzy and it keeps moving tick by tick.
Newbie question.....
If I put a bid in at the ask for a pink sheet stock premarket (yes I know there not traded in pre/post market) and then the ask rises past my ask bid, will my ask bid be honored due to the fact that my ask bid was correct at the time of my order being placed or do I need to raise it when it changes. Also, how does the bid/ask change premarket if there's no trading them then????.....TIA
It looks like you are to be cashed out @ 17.25/share. I suggest that you call these people & explain your situation to them
Under the Arrangement, the Corporation’s shareholders will receive $17.25 in cash for each outstanding CLM common share.
For further information, please contact Georgeson Shareholder Communications Canada Inc., the
Corporation’s proxy solicitation agent, by (i) telephone (toll-free in North America) at 1-866-374-9879,
or (ii) email to askus@georgeson.com.
Have the Consolidated Thompson Ming shares been exchanged for Cliff Mining shares in your account and on which exchange do the Cliff Mining shares trade?
EDIT:
It looks like the correct name of the acquiring company is Cliffs Natural Resources & it trades on the NYSE as CLF. You should have been paid out it appears.
Cliffs indirectly acquired all of the outstanding shares of Consolidated Thompson for C$17.25 per share pursuant to a court-approved plan of arrangement under the Canadian Business Corporations Act. Consolidated Thompson is now an indirect wholly-owned subsidiary of Cliffs Natural Resources, and will be rebranded under the Cliffs name. The Consolidated Thompson common shares are expected to be delisted from the Toronto Stock Exchange (TSX) following the close of business on May 13, 2011.
To be added to Cliffs Natural Resources’ e-mail distribution list, please click on the link below:
www.cpg-llc.com/clearsite/clf/emailoptin.html
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is an international mining and natural resources company. A member of the S&P 500 Index, the Company is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. Cliffs’ strategy is to continually achieve greater scale and diversification in the mining industry through a focus on serving the world’s largest and fastest growing steel markets. Driven by the core values of social, environmental and capital stewardship, Cliffs associates across the globe endeavor to provide all stakeholders operating and financial transparency.
The Company is organized through a global commercial group responsible for sales and delivery of Cliffs products and a global operations group responsible for the production of the minerals the Company markets. Cliffs operates iron ore and coal mines in North America and two iron ore mining complexes in Western Australia. The Company also has a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. In addition, Cliffs has a major chromite project, in the pre-feasibility stage of development, located in Ontario, Canada.
Can someone tell me what I need to do to sell QUINTO MINING shares that were on VSE got taken over by Consolidated Thompson Ming (CLM) on the TSE and now has been taken over by Cliff Mining?
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