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Mike...thanks. I used to be a frequent lurker to that board, but as many who invest in pinks got drawn into the flashy idea of a "quick strike", "10 bagga", "MOMO play" etc. It's probably time to get back to basics and invest in real stocks, like you folks on Bobwin's board.
-k
Stock Lobster...couldn't agree with you more. The truth is painful, but that is the only way to succeed in the pinks. That message is going into the Ibox.
-k
ROFL!
That's enough to put anyone off their feed.
they could also tape a copy of this pic to their 'puter
Maybe it would inspire them to have a nice long breakfast, and turn off the computer..lol!
there are many on iHub who should consider reading your post every weekday morning @ around 9.29AM.
100% JMO
kojira & rookinvestor,
I recommend that you take a look at the Value Microcap board which is as follows:
http://www.investorshub.com/boards/board.asp?board_id=3251
This is a popular board that does detailed DD on microcap stocks that are currently making money. We only deal with companies that are reporting and try to ferret out the frauds. We have been quite successful as a group and you can learn quite a bit from the posters there. This doesn't guarantee you success but it sure tips the odds in your favor. While there are a number of valid and successful ways to make money in the market, in my opinion, this is one of the best ways.
If you do post there, please follow the rules regarding posting and only post stocks that are currently making money and are not pinkies.
Mike
99% of pinksheets are probably scams or borderline scams. At the very least, they are being diluted into oblivion in order to provide financing for one of the CEO's other hobbies...lol!
The rest are riddled with toxic financing and deadly convertibles waiting to be triggered like landmines.
There is no regulation or oversight of the pinksheet market, nor any requirement to file or provide any transparency to investors.
Pinksheet shareholders are asked to go on 'faith' that the company is who and what they say they are. But 'faith' in pennies can be a financial death wish.
If the pinksheet is incorporated in Nevada, they can dilute at will, with extreme prejudice. I would say to beware of any company with a gagged transfer agent. If they are hiding their OS, it's because they know shareholders wouldn't like what they'd find out. imho. Also be aware that dilution generally is eventually followed by it's dreaded sibling, the brutal reverse split.
OTCBBs may have many of the same problems, but at least are required to file 10ks with the SEC. Financials are not a gift to be doled out every leap year on a whim, but a requirement. Failure to file will bring about an "e" on their ticker and a delisting to the pinksheets. Therefore, OTCBBs are a little better, but there still are no guarantees. Many have the same problems with debt and deception. FHAL/CSHD was an OTCBB, fwiw.
In the penny market, it is safer to assume the stock is a scam, and let them convince you otherwise.
The veteran traders around here have learned to ignore the story, and most trade only the mometum and the volume. Even scams can make you money, but only if you trade them.
Maybe one in 1000 penny stocks has the actual potential to become a genuine company. I won't rule it out. But while you're waiting, trade the rest and exit your positions when the PPS starts to fall below your pre-determined level. You'll sleep better at night.
PDC, I am begining to thnk you have the best strategy, focusing on shell stocks. Shells = no company, no dilution, no CEO lies, no company BS. Looking better all the time to me.
I sold my entire SLJB holding yesterday in the low to mid .03 range and invested it in ETIM. I've been watching that one for a few weeks and it looks like the downward pressure has ended. I'm averaged in at .0023. It had a nice close at the HOD today at .0029.
-k
thanks ... cya around then kojira
:) would be welcome. have a good weekend.
PDC...welcome to the board and thanks. Couldn't agree with you more. Doing your own DD and validating things for yourself is the only way and yes all stocks are Sh** ;). Please drop in from time to time and share your wisdom.
-k
PDC.........maybe if I survive with some crumbs, I can join your board, and play em, not marrying them or something like that.
heres a something else to think about. good luck
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=13282288
PDC......good post. I'm a rook so I have easily been fooled but many marquee Ihub members here. That's the surprising thing...Thanks
a good rule for stuff like sljb and cshd is if it sounds to good to be true it probably is.
thanks...........I have some crumbs left.
Hi Rook, welcome to the board. Hope it works out for you, I bailed yesterday. I needed closure. GLTY.
-k
Me too........but hanging on for this last ditch statement.
Welcome All. I got killed by SLJB and a slew of other pinkies over the last few years. I still remain and still try to figure out the secrets of pinkyville, it's an addiction...never taken drugs but the highs are oooh so HIGH and the low...well I was there yesterday. The important thing is I'm back and fighting today.
-kojira
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