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i still feel somethings not right with the DTCC but i could be wrong tho.. but with Penson and TDA that gives penny traders problems does'nt help the situation, they could at least let people sell the positions, but i guess it's part of the process which is not fun if your trapped in a stock you can't sell or need to pay larges fees.
better off playing OPTIONS :P
thanks max, thats very kind of you......and thanks to you and ms. renee for that info.......i finally had a chance to listen and i am convinced they are trying to clean it up, not kill it!
NP...Mikey, i like this board you give back to the community, i sense that you are a good person by your helpfull info and making traders understand on beeing carefull in the Jungles of Pennyland :)
the credit goes to Renee for that post she did the Notes & Recap of the 3hr long SEC video, but i feel that i have to share it so people can view it and understand whats happening or gonna happen in the OTC's.
keep up the good work
feel free to post on my board
Cheers
mikey or max this is off topic but i thought i might ask. in composing posts i have not figured out to make vertical columns or have several line spaces between paragraphs. my humble thanks.
very nice recap max........thank you!
SEC Microcaps Roundtable "NOTES & Hilites"
Roundtable on the Execution, Clearance and Settlement of Microcap Securities
Roundtable Agenda
U.S. Securities and Exchange Commission
100 F Street N.E. Washington, DC
Station Place I Multipurpose Room
October 17, 2011
1:00 p.m. Call to Order and Opening Remarks: Chairman Mary Schapiro and Robert Khuzami, Director of the Division of Enforcement
Panel 1 — Compliance Challenges Associated with Microcap Securities
Moderator: Peter Curley, Associate Director, Division of Trading and Markets.
Panelists:
Claire Santaniello — Managing Director and Chief Compliance Officer, Pershing
Mihal Nahari — Chief Compliance Officer, The Depository Trust & Clearing Corporation (“DTCC”)
Thomas Merritt — Senior Managing Director, Deputy General Counsel and Corporate Secretary, Knight Capital Group
Steven Nelson — Chairman, Continental Stock Transfer and Trust Company
Marvin Pickholz — Partner, Duane Morris
Brian Lebrecht — Founder, The Lebrecht Group, APLC
David Chapman — Director, Department of Market Regulation, FINRA
Panel 2 — Anti-Money Laundering Monitoring
Moderator: Sarah Green, Bank Secrecy Act Specialist for the Office of Market Intelligence
Panelists:
Betty Santangelo — Partner, Schulte Roth & Zabel
Susan DeSantis — Managing Director and Deputy Chief Compliance Officer, DTCC
Lynne Johnston — US Head of Anti-Money Laundering Compliance, RBC Capital Markets
Harold Crawford — Global Director of Anti-Money Laundering & Sanctions, Brown Brothers Harriman & Co.
Aaron Fox — Managing Director, IPSA International Inc.
Jeff Horowitz — Managing Director and Chief Anti-Money Laundering and OFAC Officer, Pershing
Bill Park — Director, FINRA Department of Enforcement
Panel 3: Potential Changes to the Regulatory Framework Concerning Microcap Securities
Moderator: John Polise, Associate Director, Office of Compliance, Inspections and Examinations.
Panelists:
David Feldman — Partner, Richardson & Patel LLP
Susan Merrill — Partner, Bingham McCutchen
Chris Stone— Vice President of Equity Products, FINRA
Susan Grafton — Of Counsel, Gibson, Dunn & Crutcher
Walter Van Dorn — Partner, SNR Denton US LLP
R. Cromwell Coulson — President, Chief Executive Officer and Director, OTC Markets Group
NOTES and Hilites
All panelists agreed that there needs to be communication and transparency between the agencies to be proactive in routing out pump and dump schemes, the selling of unregistered or questionably registered securities, and microcap fraud.
The Gatekeepers of the DTCC have taken affirmative steps to CHILL many stocks that have suspicious trading activities of allegedly unregistered securities or improperly exempted from registration securities. The DTCC does not have the authority to initiate questions to a Security so the DTCC chills a Security until the chilled Security contacts them and remediates the concerns. The DTCC does not advise any Security or the inquiring public on specific remedies or processes to remove a chill because the " bad actors " would quickly find loopholes and other deceptions to circumvent a DTCC Chill.
A panelist commented that due diligence is a " nonsense phrase " when the trustworthiness of the source is highly questionable, and Legal Opinions should be presumed to be worthless because too many lawyers predicate their Legal Opinions on the trustworthiness of the Issuer without conducting any vetting of the Issuer's information which is often false. It was recommended that the SEC impose strict reqirements on Lawyers who write Legal Opinions to thoroughly vet Transfer Agents and Issuers to ensure their Legal Opinions are accurate.
The DTCC have in place a Risk Assessment team to detect suspicious trading activities involving unregistered securities and questionably exempt from registration securities citing severe concerns about Legal Opinion Letters improperly exempting securities from registration. The DTCC raised concerns about Issuers " lawyer shopping " to find a lawyer who will do the Issuer's bidding without any vetting whatsoever and recommended mandatory rules for Lawyers to follow....or many more Issuers can expect DTCC CHILLS. At the onset of clearance and settlement issues the DTCC's Risk and Assessment can and are invoking CHILLS. Securities that originate onshore and then go offshore to avoid registration and to hide share originations are deceptive practices of offenders, particularly repeat offenders. The DTCC suggested that more SEC Suspensions would be even more effective than DTCC Chills once SARs have triggered.
Various panelists talked about red flags and the necessity for Gatekeepers ( eg Broker Dealers, Transfer Agents, Clearing Firms ) to file SARs ( Suspicious Activity Reports ) to the SEC and DTCC on all suspicious trading activities that invariably involve the selling of unregistered or questionably registered shares. The panel agreed that any microcap company that changes business operations should be cause for a SARs. SEC Chairman Schapiro said that one SARs may not be cause for a Suspension or an Inquiry but she exampled that 3 SARs from various Gatekeepers could. She (and other panelists ) state that SARs are accelerating from 578 reports in 2006 to over 1600 in 2011.
Knight Securities stated that Marker Makers have limited resources to discover information on any Issuer and suggested a collective, central base of information be available for all Gatekeepers to access.
The Division of Enforcement and Anti-Money Laundering ( AML ) expect to implement a central repository of information for all Gatekeepers to access. The objective is to identify ALL suspected and proven offenders and to stop repeat offenders who have been successful at starting up new enterprises after a previous enterprise has expired or been routed out as a fraud.
The Division wants ALL non-reporting Issuers to file timely financials and to conduct a yearly audit. The Division wants OTC stocks to file legal disclosures since company disclosures on websites and via news releases can be deceptive.
Panelists noted that an increasing number of Broker Dealers are refusing to allow trading on non-reporting Securities for all of the aforementioned reasons. Regulation Notice 0905 alerts B.D.'s that they may be wittingly or unwittingly selling unregistered Securities or improperly exempted from registration Securities of Issuers and family / friends of Issuers. Bottom line to B.D.'s is to vet all securities for sale.
Cromwell Coulson, CEO of the OTC Group plauded the tier system for being an excellent resource for the SEC to investigate SARs, conduct Investigations, and invoke Suspensions. Coulson advocated for mandatory requirements for Transfer Agents to file all increases in shares of an Issuer.
Coulson stated the OTC Group has a published list of Lawyers who have written questionable Legal Opinion Letters.
Coulson stated the OTC Group has been given more authority to request additional information from all Issuers, and the OTC Group is downgrading an increasing amount of Issuers to Caveat Emptor for failure to provide requested information.
Coulson recommended that Transfer Agents be required to post accurate Outstanding Shares and to post all officers and directors of Issuers.
Coulson recommended that insiders and promoters be restricted from selling new share issuances for one year.
Coulson stated that even with all the warnings and protections the OTC Group provides that they " can't protect dumb investors ".
Closing statements from various panelists addressed dead shells being used to commit microcap fraud, and that vastly improved technologies allow viral frauds to happen quicker than can be detected, therein the need for a central repository for all Gatekeepers to access to identify the repeat offenders in order to expose a current fraud and take action BEFORE they can start their next fraud.
Panelists also discussed recent Bankruptcy companies where the SEC cannot access vital information and whereby the fraudsters are disseminating false information to manipulate the stocks.
The SEC has accelerated Suspensions of some BK stocks. General Motors was a cited example of stock manipulation and the SEC's delisting of GM stock.
The panel also recommended that Issuer websites be regulated because too many issuers disseminate false information.
The panel stated that SEC reporting microcaps are becoming a favorite of the fraudsters and schemers because they find ingenious ways to defraud on the strength of the reporting company's apparent legitimacy.
Many other comments were made throughout the Roundtable so interested persons should listen to the broadcast.
bob, you havent missed anything.........that market is broken, right now!
SEC Announces Roundtable on Microcap Securities
FOR IMMEDIATE RELEASE 2011-186
Washington, D.C., Sept. 19, 2011 — The Securities and Exchange Commission today announced that it will host a public roundtable next month to discuss the unique regulatory issues surrounding the execution, clearance, and settlement of microcap securities.
The roundtable is being sponsored by the SEC’s Microcap Fraud Working Group, a joint initiative of the Division of Enforcement and Office of Compliance Inspections and Examinations. The Working Group is the Commission’s primary resource for issues relating to market participants and trading practices concerning securities primarily quoted on the OTC Bulletin Board (OTCBB) or OTC Quote (previously Pink Sheets).
The event will take place on October 17 from 1 p.m. to 5 p.m. at the SEC’s Washington D.C. headquarters. It will feature in-depth discussions of key regulatory issues including Anti-Money Laundering monitoring, compliance challenges, and potential changes to the regulatory framework. Panelists will include representatives from The Deposit Trust Company, broker-dealers, the Financial Industry Regulatory Authority and others.
The roundtable is part of an ongoing SEC effort to focus on the particular challenges facing issuers and regulated entities within the changing business and regulatory climates. The purpose of the roundtable is to enable Commission staff to gather ideas and request input for regulatory measures surrounding the execution, clearance and settlement of low-priced securities.
The event is open to the public with seating available on a first-come, first-served basis. The roundtable also will be webcast live on the SEC website and archived for later viewing. For more information about the roundtable, contact the Division of Enforcement at 202-551-6607.
http://www.sec.gov/news/press/2011/2011-186.htm
Penson Important Info Links
Penson is a clearing firm for lots of discounted brokers and causing lots of problems for traders and since it also affected me i researched and found some interesting info.
> Penson under investigation Over Possible Violations Of Securities Laws
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66717518
> Multi Class Action Lawsuits Against Penson Worldwide
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66717401
> What Triggered Pensons Problems ?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66834506
> Penson's restructuring plans & Letter of New Low price Security Policy
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66717970
> MicroCap Stocks under a Dime "Article" (Non-DTCC / PENSON / Broker situation)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66687899
> Penson Discontinues Execution for Certain Non-DTCC Eligible Securities (incl. Non-DTCC stock list)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66063696
> Non-DTCC Eligible Search Utility
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66063830
$POS Penson
Hi Mikey,
Greetings! I hope you & yours are doing well. I'm fine, healthy, happy & actually considering retirement in the not-too-distant future, but have been saying that for some time now! My trading for the past few years has largely been limited to managing a fidelity acct but I still have a funded TDA acct I use to fart around with for occasional day trades & swings whenever I'm in one spot for any length of time. I'm still traveling quite a bit so day trading is a challenge, to say the least. No penny plays for me for quite a while - I see I haven't missed much other than the same ole same ole - and more of it at a glance! No thanks; I'll pass!
Speaking of the penny market, I found this video put out in an email today by www.pumpsanddumps.com pretty amusing...it covers all the "nuances" (aka "BS") in penny stock message board posts & emails:
yeah, kinda like an AA meeting, learn from others mistakes, when they are honest enough to share em......
Eeveryone makes mistakes and has weaknesses and that one of the most important things that differentiates people is their approach to handling them.
I will learn lot more knowledge from you.
Are you undisciplined?
"currently on my 4th start"
Are you undisciplined? Whatever the reason you lost 3 times this time avoid your mistakes and you will be successful in the end.
15 years of technicals exp will make big money and you will help many people.
Any of you experts have recommendations for conference call hosting services? I have a CEO in my ear asking for my input, and before I give him my opinion, I'm interested in hearing others'.
Thanks.
sup/yba, feel free to add anything you like..........thanks for dropping by.....
i do need to update the ibox, soon, too......
Nice place here Mikey, thanks, Bmarked
Cramer on scaling in 5/27/2011!
Looking forward to it. Keep up the excellent work you do.
thanks jim, hopefully i'll be able to add more in the near future
Big shot. Thank you for the post. Your contributions and knowledge are priceless.
Great boards, thanks for the awareness Mikey!!
BM'd them both.
t
Awesome boards thanks for the heads up Mikey!!
Two fantastic new boards on SEC. OF STATES
http://investorshub.advfn.com/boards/board.aspx?board_id=19900
http://investorshub.advfn.com/boards/board.aspx?board_id=18534
ALL secretary of states offices....http://investorshub.advfn.com/boards/board.aspx?board_id=19900
provided by creede
fantastic board.........now, THIS is giving back!!!
HOW MMs DO WHAT THEY DO ... ...
How MM's do what they do.
1) MMs can be short because a bunch of buy orders come in that they don't have shares for but because they want the business they fill them anyways. This would help explain our 'short %' numbers.
2) It talks about how the MM may run the price up in the morning, then cover the rest of the day as the price falls. There was a fairly distinct trading pattern in CPRK that matched that about a month back. Richard kept talking about how this was dilution but the MM scenario makes more sense to me.
(UPDATED) Penny Stock Market Makers Who Are the Players in this Game
By Bill Panetta
Let Me Start off by saying this: Level 2 Does not have the same effect like it did 5 years ago except for OTCBB Stocks & Pink Sheet Stocks. What Do I mean By This? NASDAQ is all chart plays, level 2 has no meaning as it once did for NASDAQ Stocks, and too many games can be played now on level 2. Simply put if you don't know how to read the charts you will get killed on NASDAQ Stocks.
With all the changes on Level 2 Traders have been forced to learn TA, You could had a made a killing with level 2 before 2001 with out TA; I have witnesses that have proven this.
And when I make this comment I am talking about regular trading hours, after hour's different story. Bottom Line Level 2 does not have the same effect on NASDAQ Stocks that it did 5 years ago because of the New Super Soes Trading System being implemented in 2001 and along with 1 cent spreads, it was the worst thing NASDAQ ever did for traders IMO. The Traders from 5 yrs ago know what I am talking about.
Let's talk about the 2 exchanges where Level 2 has not changed and having level 2 is really important to your trading. I am talking about The OTCBB & PINKSHEET Markets.
If you learn how to read into Level 2 on the OTCBB & PINK SHEETS it will really enhance your trading. Let's break down the Market Markets.
There are 4 categories of Market Makers let's start by talking about the first one.
Retail Market Makers:
These are the market makers from very popular brokerage firms. They handle a lot of the order flow for small retail investors.
NITE: NITE
UBSS: Schwab (Not known as one of the good guys)
AUTO is being used by Ameritrade and Penson Brokers as an alternative to SBSH. if SBSH does not want the order flow he sends it to AUTO.
SBSH: Citibank
ETRD: ETRADE
BOFA: Bank of the American
Second Category: This is the list that you really have to master because these are the MARKET MAKERS that can kill a stock in a hurry when there are the sitting on right side of the box on Level 2.
HDSN: killed CKYS single-handedly
VFIN:
CGFL: new kid on the block for sub dilution
RBCM: Old CLYP. Has killed many sub penny stocks in the past to no-bid.
FANC: used to be a heavy S-8 seller. May show up once in a great while.
SSGI: aggressive on sub penny stocks
Third category: There are lot market makers in this category so I will break it down to who are the most important: These are some of the more friendlier market makers on the street.
DOMS: one of my favorites
MAXM:
VERT:
HILL:
SALI: can be a seller at times
JEFF:
FRAN: very friendly
ABLE:
QUIN: haven't seen him around much lately
VNDM:
SEAB:
MURF: getting active lately
STGI: getting active lately
VERT:
WDCO: can be a seller at times
PERT:
NIII:
BEST:
GNLN: nice to see him back again
EFGI: can be a seller at times
LAMP: LAMP the most dilutive POS ever (From 1geb)
Category 4: ECN MARKET MAKERS: Electronic Routes
these market makers are only used on OTC BB stocks. They do not work for pink sheet market.
ARCA: used a lot by promoters to sell stock
TRAC: rarely used any more taken over by EDGX
EDGX: new kid on the block
There are probably a few market makers that I left out or there will a few new market makers that show but for the most part these are the major players. Good luck hopes this helps.
Market Maker Speaks Out: Ways of a Market Maker
I was an OTC MM for about 10 years ending in the late 80's. Since then I have been strictly an investor. Since I have not been that up to date in MM rules I will only make statements that I feel fairly confident are still accurate regarding these activities. By and large most MM don't have a clue nor do they care to learn, about the fundamentals of the stocks they trade.
They just try to make orderly markets. When dealing with BB stocks it is very easy for a MM to get trapped into being short in dealing in a fast moving market. Reason being; most of the MM's in this stock are what are called "wholesalers" this means they don't have retail brokers "working" the stocks.
So they have to rely on what's known as the "call" from larger retail houses. If a "Big" retail firm like an E-trade calls up a market maker to purchase say 5,000 shares of a stock, they expect to get an "execution" from that market maker. If he turns them down, or only gives a partial then the "Big" firm will go to another MM.
If this second MM "fills the order" then that "Big" firm has a moral obligation to continue to give future "business" in that stock to that MM who performed (his life blood). This will go on until he "fails" to perform and so on.
Contrary to popular opinion the "Big" firms Do NOT neccessarily go to the "Low Offer" to fill a buy order (Or high bid for a sell). They "Go" to who they think will perform to fill the order and expect that MM to "match" the "low offer" in the case of a buy (bid in the case of a sell). Even though this MM might in fact be the "high bid" and not really want to sell any more.
As a wholesaler he must perform or he will get a reputation as a "non-performer" with the "Big" houses and will cease getting "calls" which means he will soon go out of business. I mentioned above that this activity is very significant to BB stocks. I say this because most of the trades in these BB stocks are "unsolicited" and are done through discount houses.
With the above groundwork laid, let me try to explain how market makers get short even if they like the Company; Lets say that a stock (shell) has been lying quietly at $.25 bid $.50 offered. A limit order comes into one of the MM's to Buy at $.50 for a thousand shares. Prior to this trade that MM may be "flat" (neither long or short any shares). He fills the order and is now short 1,000 shares. He may raise his bid hoping to find a seller to "flatten" out his position. But before he realizes it a wave of buyers have come in and cleared out all the $.50 offers. Now the stock is $.50 bid .75 offered. Here comes that "Big" firm he just sold the 1,000 shares to at .50 with another bid for 1000 at .75. He makes this print. Now he is short 2,000 at an average of .625. The market keeps moving and now its .75 bid 1.00 offered. Now he has to make a decision.
Just like investors, MM Hate to take a loss. So 9 times out of 10 he will now sell 2000 at 1.00 making him short 4000 but with an average .81. At this time he would love to see a seller at .75 so he can cover his short and make a few bucks.
But instead the market keeps moving up. Now it is 1.00 to 1.25 and here comes the buyer again at 1.25. He doesn't want to lose the call so now he needs to sell 4,000 at 1.25 to keep his break even point above the bid. Now he is short 8,000. Market moves up to 1.25 bid 1.50 offer here comes the buyer now he feels he must sell 8000 here because "stocks don't go up forever".
Now he is short 16,000. And so on and so on. If the stock keeps moving up, before he realizes it he could be short 50k or 100k shares (depending how big his bank is). Finally the market closes for the day and on paper he may look all right in that his "break even" price may be around the closing price. But now he has to figure out how to entice sellers so he can cover this short. It is important to note that if this happened to one MM it has probably happened to most all of them.
Some ways MM's entice sellers; Run the stock up with a "tight spread" in a fast market, then "open" up the spread to slow down the buying interest. After it has "cooled off" for a little while lower the offer below the last trade right after a small piece trades on the offer then tighten the spread so that the sellers feel they can take a "quick profit" by "hitting the bid" on the tight spread.
Once the selling starts the MM's will walk it down quickly by only making small prints on the way down with the tight spread. Another way is by running the stock up in the morning, averaging up their short then use the above technique to walk it down in the afternoon.
Hopefully after doing this for several days, it will demoralize the buyers. The volume will dry up and the sellers will materialize thinking that the game is over.
Contrary to popular opinion, MM usually Do Not Cover in Fast moving markets either Up or Down if they are short. They Short More. They usually try to cover after the frenzy is out of the market. There are many other techniques they use but the above are the most popular.
This technique works about 9 times out of 10 particularly in a BB market. However that is because 9 out of 10 BB stocks are BS. Remember what I said above. Most MM's don't have a clue as to the value of a Company until they get trapped. If the Company has solid fundementals and a bright future. Then the stock will do very well. And the activity that caused the situation will prove to even help the future stock activity because it created an audience."
Market Maker's Operating Procedure
The savvy long-term investors never chase stocks up. For the most part that is momentum players and daytraders where most of it or what follows is dumb money. Instead the long-term investors use a couple of simple strategies in order to position themselves. One is to find a stock no one immediately sees has huge potential and accumulate. Long-term investors are not interested in trading against the public mind or the dumb money. That's where the majority of the money can be made but even more can be made if the base of a stock is held extremely strong by investors. However the second is not to doubt the research which is the underlying basis for going long and holding.
More and more investors are winning the game nowadays despite all bashers that float through the Internet that has become part of the game. Floor traders of market makers often watch CNBC, news wires and bulletin boards in order to follow the market during trading session. OTC BB market makers (MMs) don't use fundamental and technical analysis. However, what they do realize is a lot of dumb money does use this newest nitch charting or TA (Technical Analysis) to run a stock either up or down. To the MMs this is like taking candy from a baby. Simply they will paint the tape and use whatever tactic to affect the charting bands. Thus the public and dumb money they will have eating out of their hands. Effectively the MMs can show a strong stock growing weak by manipulating the close price in order to generate selling volume, delaying trading time to manipulate trading activities, or even stalling the ask without honoring orders to hold a stock price.
MMs follow a simple code of business when making a market in a stock especially an OTC BB. That is the level that stocks will seek that yields the most volume. Now this is very important because they make money on the volume buying at the bid and selling at the ask. In other words, by making the market they are buying low and selling high. Now smart money adheres to that rule, so do all the market makers. They could careless whether the stock is at $83 or at $0.23. All they care about is the action thus being able to sell stock at the offer (The high) and buy stock at the bid (The low). To increase their profitability, they make the spread as great as possible on as many shares as they can especially if the volume falls off.
When they have mostly all "buy" orders, that's not the price that's going to yield the most volume. They need both buy and sells to get the maximum action. Remember, MMs play the volume. If the volume decreases and there are mostly Buys that become a one way volume, Buy volume. So what they do is let the stock run up to a price where it runs out of steam. They fill all the buy orders there that they can and then comes the pullback one way or another naturally or induced. During the pull back they can buy tons of shares and flip them to those averaging down or trying to catch the bounce. At some price, the stock will be relatively stable and yield the most volume. Now that is the average price you will see
The average price is the point where a stock seeks a level where MMs can profit on the most volume. So during the day that is the price that MMs and momentum/day traders want to see the stock at. Why? Because they know the public and dumb money was chasing the price thing up. Most of the time, the MMs love a flurry of Market Orders which is a dead sign of an artificial run or momentum. Merely it is money in the bank for them. Most get hung in a momentum or day trade or by the tactics of Market makers, who are in the business to screw the public every chance they get and the NASD is not going to do anything about it. They are merely making the market liquid is there reasoning.
The market makers have created an added complication to the OTCBB's chaos of the already volatile intra-day price movements created by dumb money, momentum and day-traders. MMs can not relate to long-term holders in the OTC BB. That makes absolutely no sense what so ever. They feel a large percentage of trades in the OTC BB market consist of short-term or day-trades, MMs merely view the barrage of buy and sell orders as relatively neutral to the market. How they figure it is when the average dumb money buys shares in a company, the MMs feel or rather know with some certainty it is very likely that dumb money will want to sell back those shares relatively quick on the slightest drop.
Now somewhat comfortable with this logic the MMs merely short sells into the buying and attempts to take the stock down in an effort to "shake out" the weak. Since it is tough to know for sure whether a move is the beginning of a trend, or a routine shake out, this type of deception works quite well for the MMs. What the long-termers do to a stock is surprise the MMs because instead of falling the shorting has no effect and the price goes up. Now that puts the MM at selling low through shorting and thus having to buy high in order to cover.
Boy, when this happens, the MMs are not very happy campers. The investors and traders are supposed to be doing that not them. Now it becomes time to pull out every trick and tactic in the book in order to attempt to get a Bear Raid at every dollar mark or percent from where the stock started. Could be a penny in smaller priced securities? What MMs do is give you a chance to make a small amount of money for your momentum and day trading style by shorting it at these levels and trying to get a bear raid each time. Each failure is compounding the MMs short position so they let it go to the next level. Now come more deliberate tactics MMs use to coerce Bear Raid or panic selling.
Once the MM is caught short and the strength of the buy is overpowering the MM will want to cover his short position. So the MMs call up one of his friendly MMs and says some like "the weather is sure rough today." The MM along with the other "friendly MM initiates a down tick about the same time. Now this can also be done with a certain amount of shares such as an infamous 100 shares flag. This down tick gives the illusion of weakness designed to hopefully begin the bear raid of selling. The fickle, fearful, day trader, momentum and short term begin to sell out allowing the MM to cover his short position at lower prices. They will move it down quickly to get it to a price of least financial damage. Problem they have is long-term investors in the OTC BB. They start accumulating and buying comes flying in when they take it too far thus the MMs took it to the point of volume again and not only investors the other MMs step in to make money on the spread.
Alas the poor MM does not get to cover. Now comes various tactics like stalling, boxing, or even locking the Bid and Ask for a while. Of course, MMs aggressively deny any sort of collusion designed to fix quotes or spreads, but a recent SEC investigation tells another story. MMs have a vast resource of tactics and it would take probably more than my lifetime to figure them all out.
So how do investors somehow manage to overcome the obvious deception in OTCBB arena? One answer is indirection trading style by going long which the MMs do not expect. In the war between investors and public companies on the OTC BB vs the MMs, if the MMs have all the advantages due to position or other factors, direct confrontation such as momentum or day trading hitting the stock is a definite death sentence.
However, an indirect approach tends to weaken the path of least resistance before slowly overcoming it. The most effective way is long-term investors slowly accumulating and holding thus drawing the MMs out of its defenses making them as naked as their short position. This is war so this slow accumulation and holding for the long term easily achieves the desired effect to force MMs to cover and knock off the tactics or bury themselves deeper.
The MMs when caught will especially use every trick and tactic in the book to get a Bear Raid thus playing on the individual fear of most people. The MMs feel they have information and position advantages over the investors as long as the holding of the stock is in weak hands or short term holders. Since they are OTC BB MMs who believe all OTCBB companies are not worth investing and management is ineffective regardless what is happening within the company. Furthermore, MMs know they are in the position to impose a great deal of influence in OTC BB stocks trading when it suits their needs.
This inherent power of position enables the MMs to move the markets at any time up or down. As a result, the only way to draw them out of their favorable position is going long. Now this does not mean just any company but to effectively nail the MMs, Longs must find the great company on the floor and accumulate long before the MM tactics and games begin.
thanks bigshot! cant belive i just found your board. wasnt sure if this would help or not... thers no CSTI in this, a few years old that was shared with me when i was brand new. it helped :)
How MM's do what they do.
1) MMs can be short because a bunch of buy orders come in that they don't have shares for but because they want the business they fill them anyways. This would help explain our 'short %' numbers.
2) It talks about how the MM may run the price up in the morning, then cover the rest of the day as the price falls. There was a fairly distinct trading pattern in CPRK that matched that about a month back. Richard kept talking about how this was dilution but the MM scenario makes more sense to me.
(UPDATED) Penny Stock Market Makers Who Are the Players in this Game
By Bill Panetta
Let Me Start off by saying this: Level 2 Does not have the same effect like it did 5 years ago except for OTCBB Stocks & Pink Sheet Stocks. What Do I mean By This? NASDAQ is all chart plays, level 2 has no meaning as it once did for NASDAQ Stocks, and too many games can be played now on level 2. Simply put if you don't know how to read the charts you will get killed on NASDAQ Stocks.
With all the changes on Level 2 Traders have been forced to learn TA, You could had a made a killing with level 2 before 2001 with out TA; I have witnesses that have proven this.
And when I make this comment I am talking about regular trading hours, after hour's different story. Bottom Line Level 2 does not have the same effect on NASDAQ Stocks that it did 5 years ago because of the New Super Soes Trading System being implemented in 2001 and along with 1 cent spreads, it was the worst thing NASDAQ ever did for traders IMO. The Traders from 5 yrs ago know what I am talking about.
Let's talk about the 2 exchanges where Level 2 has not changed and having level 2 is really important to your trading. I am talking about The OTCBB & PINKSHEET Markets.
If you learn how to read into Level 2 on the OTCBB & PINK SHEETS it will really enhance your trading. Let's break down the Market Markets.
There are 4 categories of Market Makers let's start by talking about the first one.
Retail Market Makers:
These are the market makers from very popular brokerage firms. They handle a lot of the order flow for small retail investors.
NITE: NITE
UBSS: Schwab (Not known as one of the good guys)
AUTO is being used by Ameritrade and Penson Brokers as an alternative to SBSH. if SBSH does not want the order flow he sends it to AUTO.
SBSH: Citibank
ETRD: ETRADE
BOFA: Bank of the American
Second Category: This is the list that you really have to master because these are the MARKET MAKERS that can kill a stock in a hurry when there are the sitting on right side of the box on Level 2.
HDSN: killed CKYS single-handedly
VFIN:
CGFL: new kid on the block for sub dilution
RBCM: Old CLYP. Has killed many sub penny stocks in the past to no-bid.
FANC: used to be a heavy S-8 seller. May show up once in a great while.
SSGI: aggressive on sub penny stocks
Third category: There are lot market makers in this category so I will break it down to who are the most important: These are some of the more friendlier market makers on the street.
DOMS: one of my favorites
MAXM:
VERT:
HILL:
SALI: can be a seller at times
JEFF:
FRAN: very friendly
ABLE:
QUIN: haven't seen him around much lately
VNDM:
SEAB:
MURF: getting active lately
STGI: getting active lately
VERT:
WDCO: can be a seller at times
PERT:
NIII:
BEST:
GNLN: nice to see him back again
EFGI: can be a seller at times
LAMP: LAMP the most dilutive POS ever (From 1geb)
Category 4: ECN MARKET MAKERS: Electronic Routes
these market makers are only used on OTC BB stocks. They do not work for pink sheet market.
ARCA: used a lot by promoters to sell stock
TRAC: rarely used any more taken over by EDGX
EDGX: new kid on the block
There are probably a few market makers that I left out or there will a few new market makers that show but for the most part these are the major players. Good luck hopes this helps.
Market Maker Speaks Out: Ways of a Market Maker
I was an OTC MM for about 10 years ending in the late 80's. Since then I have been strictly an investor. Since I have not been that up to date in MM rules I will only make statements that I feel fairly confident are still accurate regarding these activities. By and large most MM don't have a clue nor do they care to learn, about the fundamentals of the stocks they trade.
They just try to make orderly markets. When dealing with BB stocks it is very easy for a MM to get trapped into being short in dealing in a fast moving market. Reason being; most of the MM's in this stock are what are called "wholesalers" this means they don't have retail brokers "working" the stocks.
So they have to rely on what's known as the "call" from larger retail houses. If a "Big" retail firm like an E-trade calls up a market maker to purchase say 5,000 shares of a stock, they expect to get an "execution" from that market maker. If he turns them down, or only gives a partial then the "Big" firm will go to another MM.
If this second MM "fills the order" then that "Big" firm has a moral obligation to continue to give future "business" in that stock to that MM who performed (his life blood). This will go on until he "fails" to perform and so on.
Contrary to popular opinion the "Big" firms Do NOT neccessarily go to the "Low Offer" to fill a buy order (Or high bid for a sell). They "Go" to who they think will perform to fill the order and expect that MM to "match" the "low offer" in the case of a buy (bid in the case of a sell). Even though this MM might in fact be the "high bid" and not really want to sell any more.
As a wholesaler he must perform or he will get a reputation as a "non-performer" with the "Big" houses and will cease getting "calls" which means he will soon go out of business. I mentioned above that this activity is very significant to BB stocks. I say this because most of the trades in these BB stocks are "unsolicited" and are done through discount houses.
With the above groundwork laid, let me try to explain how market makers get short even if they like the Company; Lets say that a stock (shell) has been lying quietly at $.25 bid $.50 offered. A limit order comes into one of the MM's to Buy at $.50 for a thousand shares. Prior to this trade that MM may be "flat" (neither long or short any shares). He fills the order and is now short 1,000 shares. He may raise his bid hoping to find a seller to "flatten" out his position. But before he realizes it a wave of buyers have come in and cleared out all the $.50 offers. Now the stock is $.50 bid .75 offered. Here comes that "Big" firm he just sold the 1,000 shares to at .50 with another bid for 1000 at .75. He makes this print. Now he is short 2,000 at an average of .625. The market keeps moving and now its .75 bid 1.00 offered. Now he has to make a decision.
Just like investors, MM Hate to take a loss. So 9 times out of 10 he will now sell 2000 at 1.00 making him short 4000 but with an average .81. At this time he would love to see a seller at .75 so he can cover his short and make a few bucks.
But instead the market keeps moving up. Now it is 1.00 to 1.25 and here comes the buyer again at 1.25. He doesn't want to lose the call so now he needs to sell 4,000 at 1.25 to keep his break even point above the bid. Now he is short 8,000. Market moves up to 1.25 bid 1.50 offer here comes the buyer now he feels he must sell 8000 here because "stocks don't go up forever".
Now he is short 16,000. And so on and so on. If the stock keeps moving up, before he realizes it he could be short 50k or 100k shares (depending how big his bank is). Finally the market closes for the day and on paper he may look all right in that his "break even" price may be around the closing price. But now he has to figure out how to entice sellers so he can cover this short. It is important to note that if this happened to one MM it has probably happened to most all of them.
Some ways MM's entice sellers; Run the stock up with a "tight spread" in a fast market, then "open" up the spread to slow down the buying interest. After it has "cooled off" for a little while lower the offer below the last trade right after a small piece trades on the offer then tighten the spread so that the sellers feel they can take a "quick profit" by "hitting the bid" on the tight spread.
Once the selling starts the MM's will walk it down quickly by only making small prints on the way down with the tight spread. Another way is by running the stock up in the morning, averaging up their short then use the above technique to walk it down in the afternoon.
Hopefully after doing this for several days, it will demoralize the buyers. The volume will dry up and the sellers will materialize thinking that the game is over.
Contrary to popular opinion, MM usually Do Not Cover in Fast moving markets either Up or Down if they are short. They Short More. They usually try to cover after the frenzy is out of the market. There are many other techniques they use but the above are the most popular.
This technique works about 9 times out of 10 particularly in a BB market. However that is because 9 out of 10 BB stocks are BS. Remember what I said above. Most MM's don't have a clue as to the value of a Company until they get trapped. If the Company has solid fundementals and a bright future. Then the stock will do very well. And the activity that caused the situation will prove to even help the future stock activity because it created an audience."
Market Maker's Operating Procedure
The savvy long-term investors never chase stocks up. For the most part that is momentum players and daytraders where most of it or what follows is dumb money. Instead the long-term investors use a couple of simple strategies in order to position themselves. One is to find a stock no one immediately sees has huge potential and accumulate. Long-term investors are not interested in trading against the public mind or the dumb money. That's where the majority of the money can be made but even more can be made if the base of a stock is held extremely strong by investors. However the second is not to doubt the research which is the underlying basis for going long and holding.
More and more investors are winning the game nowadays despite all bashers that float through the Internet that has become part of the game. Floor traders of market makers often watch CNBC, news wires and bulletin boards in order to follow the market during trading session. OTC BB market makers (MMs) don't use fundamental and technical analysis. However, what they do realize is a lot of dumb money does use this newest nitch charting or TA (Technical Analysis) to run a stock either up or down. To the MMs this is like taking candy from a baby. Simply they will paint the tape and use whatever tactic to affect the charting bands. Thus the public and dumb money they will have eating out of their hands. Effectively the MMs can show a strong stock growing weak by manipulating the close price in order to generate selling volume, delaying trading time to manipulate trading activities, or even stalling the ask without honoring orders to hold a stock price.
MMs follow a simple code of business when making a market in a stock especially an OTC BB. That is the level that stocks will seek that yields the most volume. Now this is very important because they make money on the volume buying at the bid and selling at the ask. In other words, by making the market they are buying low and selling high. Now smart money adheres to that rule, so do all the market makers. They could careless whether the stock is at $83 or at $0.23. All they care about is the action thus being able to sell stock at the offer (The high) and buy stock at the bid (The low). To increase their profitability, they make the spread as great as possible on as many shares as they can especially if the volume falls off.
When they have mostly all "buy" orders, that's not the price that's going to yield the most volume. They need both buy and sells to get the maximum action. Remember, MMs play the volume. If the volume decreases and there are mostly Buys that become a one way volume, Buy volume. So what they do is let the stock run up to a price where it runs out of steam. They fill all the buy orders there that they can and then comes the pullback one way or another naturally or induced. During the pull back they can buy tons of shares and flip them to those averaging down or trying to catch the bounce. At some price, the stock will be relatively stable and yield the most volume. Now that is the average price you will see
The average price is the point where a stock seeks a level where MMs can profit on the most volume. So during the day that is the price that MMs and momentum/day traders want to see the stock at. Why? Because they know the public and dumb money was chasing the price thing up. Most of the time, the MMs love a flurry of Market Orders which is a dead sign of an artificial run or momentum. Merely it is money in the bank for them. Most get hung in a momentum or day trade or by the tactics of Market makers, who are in the business to screw the public every chance they get and the NASD is not going to do anything about it. They are merely making the market liquid is there reasoning.
The market makers have created an added complication to the OTCBB's chaos of the already volatile intra-day price movements created by dumb money, momentum and day-traders. MMs can not relate to long-term holders in the OTC BB. That makes absolutely no sense what so ever. They feel a large percentage of trades in the OTC BB market consist of short-term or day-trades, MMs merely view the barrage of buy and sell orders as relatively neutral to the market. How they figure it is when the average dumb money buys shares in a company, the MMs feel or rather know with some certainty it is very likely that dumb money will want to sell back those shares relatively quick on the slightest drop.
Now somewhat comfortable with this logic the MMs merely short sells into the buying and attempts to take the stock down in an effort to "shake out" the weak. Since it is tough to know for sure whether a move is the beginning of a trend, or a routine shake out, this type of deception works quite well for the MMs. What the long-termers do to a stock is surprise the MMs because instead of falling the shorting has no effect and the price goes up. Now that puts the MM at selling low through shorting and thus having to buy high in order to cover.
Boy, when this happens, the MMs are not very happy campers. The investors and traders are supposed to be doing that not them. Now it becomes time to pull out every trick and tactic in the book in order to attempt to get a Bear Raid at every dollar mark or percent from where the stock started. Could be a penny in smaller priced securities? What MMs do is give you a chance to make a small amount of money for your momentum and day trading style by shorting it at these levels and trying to get a bear raid each time. Each failure is compounding the MMs short position so they let it go to the next level. Now come more deliberate tactics MMs use to coerce Bear Raid or panic selling.
Once the MM is caught short and the strength of the buy is overpowering the MM will want to cover his short position. So the MMs call up one of his friendly MMs and says some like "the weather is sure rough today." The MM along with the other "friendly MM initiates a down tick about the same time. Now this can also be done with a certain amount of shares such as an infamous 100 shares flag. This down tick gives the illusion of weakness designed to hopefully begin the bear raid of selling. The fickle, fearful, day trader, momentum and short term begin to sell out allowing the MM to cover his short position at lower prices. They will move it down quickly to get it to a price of least financial damage. Problem they have is long-term investors in the OTC BB. They start accumulating and buying comes flying in when they take it too far thus the MMs took it to the point of volume again and not only investors the other MMs step in to make money on the spread.
Alas the poor MM does not get to cover. Now comes various tactics like stalling, boxing, or even locking the Bid and Ask for a while. Of course, MMs aggressively deny any sort of collusion designed to fix quotes or spreads, but a recent SEC investigation tells another story. MMs have a vast resource of tactics and it would take probably more than my lifetime to figure them all out.
So how do investors somehow manage to overcome the obvious deception in OTCBB arena? One answer is indirection trading style by going long which the MMs do not expect. In the war between investors and public companies on the OTC BB vs the MMs, if the MMs have all the advantages due to position or other factors, direct confrontation such as momentum or day trading hitting the stock is a definite death sentence.
However, an indirect approach tends to weaken the path of least resistance before slowly overcoming it. The most effective way is long-term investors slowly accumulating and holding thus drawing the MMs out of its defenses making them as naked as their short position. This is war so this slow accumulation and holding for the long term easily achieves the desired effect to force MMs to cover and knock off the tactics or bury themselves deeper.
The MMs when caught will especially use every trick and tactic in the book to get a Bear Raid thus playing on the individual fear of most people. The MMs feel they have information and position advantages over the investors as long as the holding of the stock is in weak hands or short term holders. Since they are OTC BB MMs who believe all OTCBB companies are not worth investing and management is ineffective regardless what is happening within the company. Furthermore, MMs know they are in the position to impose a great deal of influence in OTC BB stocks trading when it suits their needs.
This inherent power of position enables the MMs to move the markets at any time up or down. As a result, the only way to draw them out of their favorable position is going long. Now this does not mean just any company but to effectively nail the MMs, Longs must find the great company on the floor and accumulate long before the MM tactics and games begin.
T TRADES explained........
hitting the bid vs. selling at the ask.......i know its always a great read when i see someone posting 'always sell at the ask'....i'll make this short and sweet: you will want to sell at the ask IF you can......obviously, if you can, you'll make more money if you sell at the ask on an uptrending stock........however, the other side of that is this: if a stock is falling apart and/or you WANT to GET OUT......you may have to HIT THE BID.......and if you WANT to get out, you BETTER hit the bid and clear it or you will be a STUCKHOLDER!......btw, this is not open for discussion!!!!!!!!!
anyone that tells you that they never sell at the bid is either a liar, a very poor trader or been reading too many messageboards!
Good post......every trader needs a penson broker today now more than ever before.....asap imo ~
i have NEVER had a stock i couldnt play with penson broker.........frequently, amtd, etrad, scott and schwabb will not allow trading in certain stocks......most of the time, becuase they are a pile of garbage..........but as we often see, some pile of garbage will run also.........these are all trades,ONLY.......
check the IBOX........if you have any questions feel free to drop me a note right here........i'll be glad to reply back when time permits........
what do pension brokers allow that ameritrade doesnt? what is the benefit of pension broker? I have free live charts with ameritrade thanks to think or swim software and would hate to give that up. unfortunately i cant do this full time yet id be POOR lol. but i do like following this market. i realize level II is a huge asset i dont have do pension brokers provide those things? thanks xbig im getting more serious about this and jsut started hearing about pension brokers
Fantastic, thanks for taking the time in putting that list together......sticky ?
WHY post #252 is VERY IMPORTANT......there isnt a day that goes by, that i dont see of some problems caused by the big 4(amt, etrd, scott and schwab) on how we should handle our own money........some of us play the small caps because we like the speculation, fun and profit.......yeah, at times, we can get our butts handed to us, too......we all know that.......but for some of these guys to take the 'high road' is absurd.......i know of no broker in the world that would 'suggest' a penny stock to his regular clientele, therefore the decisions that you and i make are of our own accord......it should be no different than deciding which big board we are going to play.......and then the cruelest cut of them all.....they'll 'allow' you to play if you 'call it in' and often you wont get the internet rate.....
i am going to suggest, that if you intend to keep playing these lil doogiedoo's, at least get on a lil more level playing field and open up a PENSON account, as an additional account, especially for small cap stocks........btw, this is the 98th year of pinksheet stocks....these are TRADES not INVESTMENTS......100% OF THE TIME.........they'll probably be around for a while
http://www.articlesbase.com/investing-articles/the-history-of-the-pink-sheets-603020.html
learn how the game is played on pinks and otcs and you can make a couple of bucks......however, be prepared for trades to often go against you.......
mikey
WEBSITES FOR PENSON BROKERS! updated
http://www.interactivebrokers.com/ibg/main.php
http://www.sogotrade.com/s1/Default.aspx
http://www.lowtrades.com/
http://www.choicetrade.com/?gclid=CPqSteKT8KYCFRN-5QodMF8UAw
http://www.abwatley.com/
http://www.ocsecurities.com/
https://www.zecco.com/?campaign=SEM-Google-Brand&promo=hp
https://www.thinkorswim.com/tos/client/index.jsp
https://speedtrader.com/default.aspx
http://www.jhdarbie.com/
http://www.mastertrader.com/
http://www.pcmtrading.com/about/index.html
http://www.nobletrading.com/
http://www.cobratrading.com/direct_access.php
http://www.regalsecurities.com/DayTrading.htm
http://www.lightspeed.com/
http://transcendcapital.com/
http://www.legendsecuritiesinc.com/home.html
http://merrimac-corp.com/
http://www.aegiscap.com/
http://www.trackdata.com/
http://www.worldtradefinancial.com/
we will add to this list as we get more information
where can I get omnipro? I'm looking, want flat commission on OTC / BB.
axispro is very similar, ron.........just stay with that......
Where can I find the omnipro trading platform, axispro is really nice. But who has them.
Tradeking, zecco use Penson. But how do I get the trading platforms, I'm calling this moring to see if i can find them.
Thankx Ron
If anyone has a question reply back to me so i'll see it........i'll try to answer any questions you may have...i dont have all the answers, but if i dont, i can usually head you in the right direction
mikey
ug, just saw your question........in the future, just hit the reply button
the only people that can walk a stock down from the levels you indicated are the folks controlling the float, usually large 3rd party shareholders, such as finance guys......retail does not have that ability.....
Thank you - now I have a fighting chance to recover from my newbie 80% loss. lol i am currently on my 4th start.......my first three times were a mess
Another great question. What is the best broker to use? Cheap commissions / fast executions. Any good intergrated point and click brokers. For very fast trades like forex.
Private msg me if you can. - What tools do you recommend?
if you want to trade options and big boards......stay with the ameritrade group .....in playing smallcaps and pinks.......use any penson broker......they are all about the same.....try to get omnipro with your penson broker...its an awesome trading platform
Lots of questions - looks i will be subscribing to private msg people.
"Its all in the tools" gotta have the right tools for the job.
I have 4 brokerage accounts, looking for the best 1.
Zecco - (Margin account)low commissions, no cap --- too damn long to fund (I'm trading sub pennies so margin does not apply yet)just plan ahead a lil closer on REfunding it..........of the ones listed here........no contest from where i sit.......zecco
Fidelity - IRA accout (very stable investments)
Scottrade - very fast, high commissions on penny stocks - easy to fund at local location.
Sharebuilder - starter account with IPO's (looking to exit as soon as IPO issues closeout payout for closure.
Also have Ultimate trader Level II here.
haven't lost too much yet, only 8K unrealized .......you can handle that........you'll probably never be a good trader untill you get you butt handed to ya....lolShould I open up a TD account, less than 10K, so not elite ......yes, i would minimize scot, sharebuilder and leave the ira as it is with fidelity
all good questions, btw
mikey
Wanted to move questions off other board -
Thank you - now I have a fighting chance to recover from my newbie 80% loss. lol
Another great question. What is the best broker to use? Cheap commissions / fast executions. Any good intergrated point and click brokers. For very fast trades like forex.
Private msg me if you can. - What tools do you recommend?
Lots of questions - looks i will be subscribing to private msg people.
"Its all in the tools" gotta have the right tools for the job.
I have 4 brokerage accounts, looking for the best 1.
Zecco - (Margin account)low commissions, no cap --- too damn long to fund (I'm trading sub pennies so margin does not apply yet)
Fidelity - IRA accout (very stable investments)
Scottrade - very fast, high commissions on penny stocks - easy to fund at local location.
Sharebuilder - starter account with IPO's (looking to exit as soon as IPO issues closeout payout for closure.
Also have Ultimate trader Level II here.
haven't lost too much yet, only 8K unrealized
Should I open up a TD account, less than 10K, so not elite
Well i guess there won't be an answer to that question.. doesn't surprise me though.. i mean who would want to talk openly about manipulation..?
This is great, a board dedicated to teaching. I have a question. How do the pros walk a stock down? For example; suppose a stock is trading at 10 cents but the pros want to drag it down to 3 cents so they can load up. How do they go about doing that?
thank you.
Mikey,
Will there be a trading stop on the hmit/vmgi ticker change?
Thanks, GMC/FORD
Stock Screeners
Hey guys, can anyone suggest a good free stock screener? And MORE importantly. What inputs do you guys use to find bottoms and good potential plays when you run a screen?
Thanks
exit
Thanks for the PM xbigshot, dont have PM or I would reply. Love this board it his helping tremendously! person mark 4 u!
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THE PURPOSE OF THIS BOARD IS SIMPLE: to try to educate our novice and new traders! I am astounded at some of the messages that i see written on some boards. It is quite obvious, that some of our brethern have no idea what they are doing, and more importantly, dont even know where to look to find information.
I am going to be asking some of the better traders to "throw down" some of their better LINKS to success in the otcbb market......
the link can be technical, fundamental, news, filings, etc....i simply dont care what link is posted as long as its applicable to trading!
i am going to encourage all new traders to use some of these links in their everyday trading and in some cases, there will probably be some great information in that link, as well!
no offtopic posts will be allowed! no posting on stocks will be allowed! no pumping will be allowed! no bashing will be allowed!
i would ask posters to follow the format that i use in post number 1.........in the subject, spell out what the link refers to and in the body........post the link!
this board is primarily for use by anyone, but we are trying to help the newbie/rookie.....i think we are coming into otc season... its upon us... and we want to give our newer friends every possible resource that they can find!
glta
mikey
_______________________________________________________________
SEC Form Types and Definitions
http://www.gsionline.com/support/formtypes.html
5th letter suffix's
http://www.stockboss.com/stockhelp.htm
market maker information
http://www.alphatrade.com/E_Gate/tails/java/classes/resources/level2/marketMakerIDs/m.html
monthly share volume report
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=lehmq&SortBy=volume&Month=1-1-2011
EQUITYFEED...........the finest stock screener there is for ALL stocks.......: http://www.equityfeed.com/
market statistics........if you are going to trade the small cap market.........you need to learn how it works: http://otcbb.com/dynamic/tradingdata/monthly/generalstatistics.htm
market screener
http://www.marketwatch.com/tools/marketsummary/screener.asp?exchange=15&view=1&lookup=Look+U....
quotetracker trading platform....free!
http://quotetracker.com/
all kinds of goodies....nasdaq.com
http://www.nasdaq.com/
short interest
type in symbol and click 'view'
http://otcbb.com/asp/OTCE_Short_Interest.asp
projection chart.....(computer generated)
but its a good one, nonetheless
http://charts3.barchart.com/procal.asp?sym=sssu
advance/decline line: nyse amex nasdaq otcbb
http://finance.yahoo.com/advances
Frankfurt listing
enter name of company under Kurssuche(search)
http://www.euwax.de/
basic 6 mos/daily technical chart
13dma, 50dma, 200dma, macd, stokes, rsi, cmf
substitute any symbol for the one listed......all the same parameters will come up
http://stockcharts.com/h-sc/ui?c=aani,uu[h,a]daclyyay[dc][pb50!b200!b13!f][vc60][iuyb20,2.0!la12,26,....
reatime sec filings
substitute any symbol for the one listed
http://www.nasdaq.com/asp/quotes_sec.asp?symbol=AOOR&selected=AOOR&page=filings
trading floor jargon
http://daytrading.about.com/cs/dictionaries/l/bl_jargon.htm
pinksheets
http://www.otcmarkets.com
Share Vol by Issue
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=efgu&SortBy=volume&Month=7-1-2010
buzzwords
http://www.investopedia.com/categories/buzzwords.asp
Transfer agents of companies
change symbol under company profile to find appropriate xfr agent.....then do a simple google search to find phone number......call them and tell them you are a shareholder and would like to know the o/s and the restricted if available......subtract restricted from o/s and you will then have the tradable float, usually
http://www.otcmarkets.com/service-provider-results?searchBy=type&searchStr=6
basic computer generated scans
http://stockcharts.com/def/servlet/SC.scan
nasdaqtrader.com
lotta good stuff in here
http://www.nasdaqtrader.com/default.aspx
Nobo List News
http://product.inlumen.com/bin/headlines?headlines-template=headlines2&Query=nobo&SearchOpti
Charting source where you can find even stocks which are not available at stockcharts.com
http://www.profitspi.com/
Detailed short infos
http://www.shortsqueeze.com/
Most discussed stocks in Germany
http://www.wallstreet-online.de/aktien/statistik/topboard.html
Stock Technical Analysis
http://www.stockta.com/cgi-bin/analysis.pl?symb=MSFT&num1=1&cobrand=windchart&mode=stock
American Bulls sometimes a useful tool for rookies
http://www.americanbulls.com/
Top Stock Picks From The Stock Boards
http://www.thehotpennystocks.com/Stock-Board-Picks/
Corporate records search...
http://www.coordinatedlegal.com/SecretaryOfState.html
public records search
http://www.searchsystems.net/
domain search
http://www.whois.sc/
website traffic info
http://www.trafficestimate.com/results.asp
reverse split repeat offenders...know before you buy
http://www.investorshub.com/boards/board.asp?board_id=3017
tips on trading the gap
http://www.rightline.net/education/gaptradingtips.html
terms for beginners...just use the 'search' feature
http://www.investopedia.com/university/beginner/
L2 15 min delayed here
http://allstocks.com/html/free_level_2_pink_sheet_stock_.html
Insider transactions......substitue appropriate symbol
http://finance.yahoo.com/q/it?s=FNSR
technical terms: link
http://www.investopedia.com/categories/technicalanalysis.asp
S.E.C red flags as provided by stock lobster
http://www.investorshub.com/boards/read_msg.asp?message_id=15005585
20 Safety Tips for Penny Players as provided by stock lobster
http://www.investorshub.com/boards/read_msg.asp?message_id=15003669
AMERITRADE NOW HAS LEVEL 2 FOR PINKS...........
my learning channel on Youtube.com..........http://www.youtube.com/results?search_query=xbigshot1&aq=0
SEC forms
http://learn.westlawbusiness.com/support/formtypes.html
DAILY LIST: http://www.otcbb.com/alldailylist/index_2011.htm
Vantillians Top 25 Axioms Of OTC Investing
copy it, read it again and again, print it out and look at it every day........it will save your ass, life, marriage and portfolio
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30835203
http://www.otcdealer.com/manuals/plink/main.html
http://www.otcmarkets.com/traders-brokers/otc-dealer/overview
http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=3643
http://www.nyse.com/equities/nysearcaequities/1157018931913.html
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